Global X ETFs Australia selects Citi as new custodian and fund administrator

AUSTRALIA - Global X ETFs Australia has selected Citi as the new custodian and fund administrator for its Australian exchange-traded fund (ETF) business, following a comprehensive market review process.

Citi's appointment forms part of Global X's ongoing commitment to strengthening its operating model, enhancing service delivery and supporting the continued growth of its ETF platform.

Global X selected Citi for its global expertise in ETF servicing, custody and fund administration, together with its established local capabilities and global custody network. Importantly, there will be no change to investment strategies or the investor experience.

"Citi's global platform, combined with its local expertise, positions us well to support the next phase of our growth while maintaining the highest standards of service our investors expect," Global X Australia CEO Alex Zaika said.

"Global X has a leading position in thematic ETFs with ambitious growth plans across fixed income and core exposures. As we continue to expand our product offering, Citi's technology, global reach and ETF servicing capabilities will help scale our operational foundation and support future innovation for investors."

Mark England, Citi Australia and New Zealand Co-Head, Services, added, "We are thrilled to partner with Global X ETFs to provide custody, fund administration, ETF and middle office services, leveraging our leadership in ETF servicing and the continued investment in our platforms.

"This is a first-of-its-kind collaboration that delivers complete front-to-back middle office support. Our global connectivity, deep market expertise and proprietary platforms position us strongly to support Global X as it scales across fixed income, thematic and core exposures."

Citi's collaboration with Global X underscores its ability to support clients with innovative solutions in Australia as a fast-growing, strategically important ETF market and supports Citi's growth ambitions to strengthen its presence across the Asia Pacific region.

Citi and Global X, as well as Mirae Asset Management, have successfully collaborated across multiple markets worldwide. In 2024, for example, Citi supported Global X's launch of the first covered calls ETFs in Hong Kong. Global X's aspirations to scale in this region are collectively shared by Citi as we shape the future of investment in Asia Pacific by serving the needs of asset managers.

The migration to Citi will be delivered in October 2026 under a structured transition programme ensuring a seamless transition of custody and fund administration services.

With approximately US$31 trillion in assets under custody and administration and a proprietary network spanning more than 60 markets, Citi Investor Services combines local market expertise, post-trade technology and an integrated Custody, Fund Services and Securities Finance offering to meet clients' needs.