Citi Partners with HANetf to Launch Citi Velocity Platform for UCITS ETFs

Citi launches Citi Velocity platform to support UCITS ETF launches with HANetf. The platform is designed to offer a one-stop shop for large global asset managers with complex needs. Citi has taken a stake in European white labelling firm HANetf and will leverage their expertise to deliver a best-in-class solution. The move reflects a growing trend in the asset management industry towards ETFs, with many asset managers scrambling to deliver an ETF solution.

Citi has announced the launch of its Citi Velocity platform, designed to support the launch of UCITS (Undertakings for Collective Investment in Transferable Securities) ETFs. The platform is intended to serve large global asset managers with complex needs, offering a one-stop shop for ETF solutions. Citi has taken a minority stake in European white-label firm HANetf to leverage their expertise and deliver a best-in-class solution [1].

HANetf, established in 2017, has introduced the white-label ETF model to Europe and currently supports 22 clients, accounting for over 16% of the 131 brands in the European ETF sector. With $7.7bn in assets under management, HANetf has become a key player in the ETF landscape [1]. The partnership with Citi marks a significant step in HANetf's expansion, as it aims to capitalize on growing interest from European and global asset managers entering the ETF market [2].

Under the agreement, Citi will delegate the capital markets operations for its forthcoming ETF white-label platform to HANetf. Citi's global head of ETF product, Andrew Jamieson, described HANetf as the "most credible" partner for this collaboration [2]. While both firms will offer competing white-label services, the partnership highlights a trend in the asset management industry towards ETFs, with many asset managers scrambling to deliver an ETF solution [3].

The launch of Citi Velocity comes amidst a growing trend in the ETF industry. In recent years, ETFs have become increasingly popular due to their liquidity, transparency, and low costs. The global ETF market is expected to continue growing, with many asset managers seeking to offer ETF solutions to meet investor demand [3].

The partnership between Citi and HANetf is a strategic move that positions both firms to capitalize on the growing demand for ETFs. By leveraging HANetf's expertise in white-label ETF solutions, Citi aims to provide a best-in-class platform for large global asset managers. The success of this partnership could set a precedent for future collaborations in the ETF industry.

References:

[1] https://www.etfstream.com/news/interviews
[2] https://finance.yahoo.com/news/citi-invests-hanetf-bolster-etf-141524138.html
[3] https://www.etfstream.com/articles/etf-wrap-trump-s-revenge-tax-plan-scrapped