Global X Australia taps Citi as ETF custodian

Binaya Dahal

Journalist

23 June 2026

Global X Australia has appointed Citi as custodian and fund administrator for its exchange-traded fund business, as the $165 billion ETF provider seeks to scale beyond thematic strategies into broader fixed-income and core exposures.

The company, part of South Korea’s Mirae Asset Financial Group, announced on Tuesday that it selected the $2.78 trillion banking giant following a comprehensive market review process. It cited Citi’s established local capabilities and extensive global custody network as key factors in the decision.

The two firms said the migration will take place in October 2026 under a structured transition programme covering custody, fund administration, ETF servicing and middle-office functions. They also reiterated that there will be no change to investment strategies or the investor experience.

“Citi’s global platform, combined with its local expertise, positions us well to support the next phase of our growth while maintaining the highest standards of service our investors expect,” said Alex Zaika, chief executive of Global X Australia.

“Global X has a leading position in thematic ETFs with ambitious growth plans across fixed income and core exposures. As we continue to expand our product offering, Citi’s technology, global reach and ETF servicing capabilities will help scale our operational foundation and support future innovation for investors.”

Citigroup and Global X, as well as its parent company Mirae Asset Financial Group, have previously partnered across multiple markets worldwide. In 2024, Citi supported Global X’s launch of covered call ETFs in Hong Kong.

But Citi’s Australia and New Zealand co-head of services Mark England said this represents the first collaboration that delivers complete front-to-back middle-office support.

“We are thrilled to partner with Global X ETFs to provide custody, fund administration, ETF and middle-office services, leveraging our leadership in ETF servicing and continued investment in our platforms,” he said.

“Our global connectivity, deep market expertise and proprietary platforms position us strongly to support Global X as it scales across fixed income, thematic and core exposures.”

Citigroup further said Australia was a fast-growing, strategically important ETF market, and the move supports its growth ambitions to strengthen its presence across the Asia-Pacific region.