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Citigroup Finance Canada enters transition agreement with Fairstone Financial

Citigroup Finance Canada entered a transition agreement with Fairstone Financial, the organization formed from the old CitiFinancial Canada.

For a period of two years, Citigroup Finance will continue to provide certain services to Fairstone as it transitions away from Citi's systems and services. These include information technology-related functions; support for accounting, tax, reconciliation and reporting; and limited services in connection with human resources activities.

An investor group led by J.C. Flowers & Co. LLC and affiliates and Värde Partners Inc. agreed to buy CitiFinancial from Citigroup Inc. in November 2016.