Global investment bank and financial institution Citi became the latest strategic investor in FinTech SIMON Markets LLC on Tuesday (February 15th).
Citi is a longtime partner of SIMON, which offers an end-to-end suite of digital tools to help finance professionals navigate the investment marketplace. Citi offers structured investments and wealth management tools.
“Citi is forward-thinking and has been an innovative force in the structured investment market. We appreciate their market perspective, dedication and stature,” SIMON CEO Jason Broder said in the joint announcement.
“By joining us now as an investor, which builds on the partnership we have developed over the years, SIMON is proud to bring together our shared vision – to help advisors seize evolving investment opportunities. , with technology,” Broder continued.
SIMON’s platform helps finance professionals looking to stay ahead of market volatility and help their clients invest with confidence, said Fabrice Hugon, Managing Director, Head of Americas Sales for Solutions for financial intermediaries at Citi. Hugon also joins the SIMON board of directors.
“Both Citi and SIMON are focused on creating new opportunities for clients and improving the client experience,” Sandeep Arora, chief digital officer and chief investment officer of Citi Institutional Clients Group, said in the release. “SIMON has built an impressive digital approach to portfolio management.
“Digitalization creates momentum, new opportunities for customers and ultimately the best user experiences. We are thrilled to join this adventure with SIMON and support their continued growth. »
Earlier this month, Citi unveiled a Shop With Points partnership with CVS, which allows cardholders to redeem points at more than 8,200 drugstore chain locations in the United States. Eligible cardholders can redeem points for $10 of eligible purchases at participating CVS stores.
See also: Citi Unveils Points Partnership with CVS
Cardholders must shop at a CVS and begin payment, paying with an eligible Citi credit card for a purchase over $10.01.
The program was launched in partnership with FIS and follows the company’s recent announcement that Citi Double Cash cardholders will receive 1% cash back when they shop and 1% when they pay for their purchases. in the form of thank you points, starting March 28.