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Citco to establish Puerto Rico as a global investment support base

  • June 2023

MAYAGÜEZ, PUERTO RICO, 20 June 2023 – The Citco group of companies (Citco), a global leader in alternative finance, has chosen Mayagüez as its latest base for a client support center – the first of its kind on the west coast, which will help to establish Puerto Rico as a talent-base for institutional financial companies.

Citco has over $1.8 trillion in Assets under Administration (AuA) and offers a full suite of middle-office and back-office services to alternative investment companies across the globe. These services include treasury and loan handling, daily NAV calculations and investor services, corporate services, regulatory and risk reporting, banking solutions, and tax and financial reporting services, among others.

Working closely with Invest Puerto Rico (InvestPR) and the Department of Economic Development and Commerce (DEDC), Citco has chosen Puerto Rico as its latest base due to its broad availability of educated professionals in the financial sector. This follows its success in opening offices in 36 countries worldwide, which have created thousands of jobs and significant investment in many jurisdictions.

Citco is seeking graduates and professionals with prior experience to fill roles in Fund Accounting and Reconciliations initially, with roles in Investor Relations to follow. Interested applicants are encouraged to contact

Its state-of-the-art office in Mayagüez will open by 2024, and currently, the company has commenced the process of evaluating and selecting its initial cohort of 15-20 hires, with Citco expecting to ramp up its local operation within the first three years. The Mayagüez office is undergoing renovations and will be led by Colin Johnson, Senior Vice President of Operations, Citco (Puerto Rico), LLC, who has been with Citco for over 13 years.

“Citco has become the world’s largest, organically grown asset-servicer in alternative investments through serving the global investment industry for over 50 years,” said Roald Smeets, President and Chief Operations Officer of Citco. “Our significant growth in recent years has always been with long-term sustainability in mind; this is why we have chosen Puerto Rico as our latest base due to the island’s broad pool of talented, dedicated financial professionals. In time, we hope to make an investment into the local economy through education and employment programs, significantly growing our operations in Puerto Rico.”

For her part, Ella Woger-Nieves, Chief Executive Officer of InvestPR, said: “With Citco’s Puerto Rico footprint, our island is now home to one of the world’s foremost asset servicers in alternative investments. The message is clear: Puerto Rico has a talented pool of human capital that supports forward-looking organizations like Citco, and we are excited to welcome them as part of Puerto Rico’s business ecosystem.”

The Secretary of DEDC, Manuel Cidre, added: "This news further cements the island’s reputation as a valuable investment destination supporting regional growth. Puerto Rico is proud to partner with Citco as they move forward with their plans on the island and expand their world-class operations to Puerto Rico.”

Citco is seeking graduates and professionals with prior experience to fill roles in Fund Accounting, Reconciliations and Investor Relations.

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