Aviva has extended its agreement with Citigroup to provide administration for its platform for a further 10 years.
Citigroup will continue to service the Aviva wrap through its OpenWealth service.
Money Marketing revealed in November that Citi was to acquire Scottish Friendly’s wrap administration business, therefore taking over the administration of the Aviva wrap.
Aviva intermediary director Andy Beswick says: “This 10-year contract with Citi gives a clear indication that we are in the platform market to stay. Citi’s expertise in this market allows us to offer a flexible proposition at a competitive price, while retaining the same robust platform service from them.”
Citi EMEA head of securities and fund services Sanjiv Sawhney says: “We are delighted to extend our business with Aviva and this appointment is testament to the high quality of the wealth management services that we have been delivering.”