Diamond Hill Capital Management hired Citigroup Global Transaction Services to provide global custody, fund administration and securities lending for Diamond Hill’s $4 billion in mutual fund assets, confirmed Susan Stuart, Diamond Hill spokeswoman.
Citi replaces J.P. Morgan. Ms. Stuart declined to comment on the reasons for the change.
“We selected Citi because they offer a rare combination of global perspective and local on-the-ground presence, as well as the ability to structure and scale solutions to meet our specific needs,” James F. Laird, Diamond Hill CFO, said in a Citigroup news release.
According to the release, Citi is also providing accounting and transfer agency services.