Praemium is providing Citigroup Wealth Advisors portfolio reporting technology through its partnership with BlackRock.
Citigroup's new discretionary managed products are to be underpinned by a separately managed accounts (SMA) platform offered through BlackRock Investment Management. That SMA uses Praemium portfolio reporting technology.
"We are pleased that our V-Wrap technology underpins and complements the BlackRock separately managed account offering. To deliver it to Citi in conjunction with BlackRock, two of the largest providers of separately managed accounts in the world, is a very proud occasion for us," Praemium managing director Arthur Naoumidis said.
The announcement comes a day after Credit Suisse selected Praemium's V-Wrap to provide portfolio administration services to its new Australian Private Banking division.
