Citi is a long-time partner of SIMON, both as a leading issuer of structured investments and via its wealth management division whose financial professionals use the investment platform.
In alignment with the focus of both firms, this announcement underscores Citi‘s (NYSE: C) commitment to innovative technologies, SIMON’s leadership in offering advisor-facing tools for risk-managed solutions and is complementary “to broader partnership opportunities that exist between the two firms.”
Jason Broder, CEO of SIMON, stated:
“Citi is forward-thinking and has been an innovative force in the structured investment market. We value their market perspective, dedication, and stature. By joining us now as an investor, which builds on the partnership we’ve developed over the years, SIMON is proud to bring together our shared vision—to help advisors embrace evolving investment opportunities, with technology.”
Fabrice Hugon, MD, Head of Americas Sales for Solutions for Financial Intermediaries at Citi, who is joining SIMON’s Board of Directors, remarked:
“Financial professionals today are looking to stay ahead of market volatility and manage client portfolios with confidence. SIMON’s platform for structured investments and alternatives is built to serve those needs, which is why they have been so successful in facilitating the adoption of these products across some of the largest financial institutions. We look forward to more closely collaborating in a number of areas and delivering the best solutions possible for financial professionals.”
Sandeep Arora, Citi Institutional Clients Group’s Head of Digital and Chief Investment Officer, added:
“Citi and SIMON are both focused on creating new opportunities for clients and improving client experiences. SIMON has built an impressive digital approach to portfolio management. Digitization creates momentum, new opportunities for clients, and ultimately, the best user experiences. We’re excited to join this journey with SIMON and support their continued growth.”
Established in 2018, SIMON helps financial advisors “build the portfolio of tomorrow by giving them access to more investment opportunities.”
As covered, the SIMON platform provides a marketplace for risk-managed and alternative solutions, “including structured investments, annuities, and traditional and progressive alternatives.”
More than 100,000 financial professionals with $5 trillion in combined client assets turn to SIMON “to stay ahead in an ever-evolving investment landscape.”
SIMON is an independently operating fintech with backing from market participants Barclays, Citi, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Prudential, and Wells Fargo, and growth equity firm WestCap.
Securities products and services offered by SIMON Markets LLC, a broker-dealer registered with the SEC, Member FINRA / SIPC. Annuities and insurance services offered by SIMON Annuities and Insurance Services LLC.