Citco Adds Financial Recovery Technologies To Partnership Program
Citco has added Financial Recovery Technologies to its partnership program, the fourth firm to be brought into the fold. FRT is a securities class action recovery service provider which helps institutional investors monitor litigations, identify eligibility, file claims and collect funds made available in shareholder class action, global and antitrust settlements.
“Continued development of our strategic partnership program by seamlessly integrating complementary services to our existing offering, is allowing Citco to create a one-stop-shop for clients. By doing so we are ultimately reducing costs for our clients and making their lives easier. We are delighted to partner with FRT, the leading provider of securities class action recovery to offer additional value add solutions to our current and future clients” said Albert Bauer, Managing Director of Citco Technology Management, Inc.
“The world of class actions has evolved dramatically over the last five years, requiring investors to evaluate their existing governance, controls, and protocols. FRT has been investing in our relationships with partners to help them provide their clients with access to FRT’s comprehensive suite of services geared at addressing the growing complexities of the global securities and non-securities class action landscape,” said Rob Adler, President of FRT. “We are excited to be a part of Citco’s strategic partnership program to offer a comprehensive, automated class action solution designed to quickly adapt as industry complexity grows.”
In 2019, over 400 shareholder class actions were filed globally which will result in billions of dollars in settlements. Being able to identify eligibility, and collect funds made available in shareholder class actions allow investors to exercise proper fund governance, while also increasing performance by several basis points per year.
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