Citigroup has sold off an alternative investor services business to SS&C Technologies for a reported $425m. The move comes as the bank looks to sell off units that either don't comply with new and incoming regulation, or that do not fit with CEO Michael Corbat's long term strategy for the bank. The transaction is set to complete in Tuesday.
Citigroup has sold off an alternative investor services business to SS&C Technologies for a reported $425m. The move comes as the bank looks to sell off units that either don't comply with new and incoming regulation, or that do not fit with CEO Michael Corbat's long term strategy for the bank. The transaction is set to complete in 1Q16.