Citibank named Philippine pension fundÆs global custodian

Philippine state pension fund Government Service Insurance System (GSIS) has named Citibank as the global custodian of the $1 billion it has allotted for overseas investments under its global investment program.Citibank will also be responsible for income collection, transactions settlement, fund valuation and accounting, compliance monitoring, transition management, and securities lending related to the program.GSIS says Citibank was chosen for its extensive proprietary network, span…