CITI NAMED BEST CASH MANAGEMENT BANK BY FINANCEASIA
Hong Kong - January 7, 2010 – Citi’s Global Transaction Services has been named the Best Cash Management Bank in Asia for 2009 by FinanceAsia. 2009 marks the sixth consecutive year Citi has won this prestigious award and the 12th out of 13 years where the editors of FinanceAsia have recognized Citi’s leadership in this regional business.
According to the editors of FinanceAsia Citi’s cash management business in Asia differentiated itself in 2009 through its unmatched regional footprint, its diverse product suite and unrivaled integrated solutions. Additionally, the publication praised Citi’s ability to lead the market in product innovation, provide local and regional solutions and the closer integration of cash management and trade functions.
Anthony Nappi, Managing Director, Region Head of Global Transaction Services, Asia Pacific, Citi, said: "Against challenging market conditions our cash management business in Asia Pacific continues to thrive on all major metrics. We are extremely proud to retain this prestigious award and will continue to provide our clients with unmatched cash management solutions in Asia Pacific through ongoing investment in product, technology and people."
In 2009, Citi’s cash management business in Asia Pacific continued to sweep major industry polls and awards. This year alone, Citi was named the Best Overall Cash Management Bank as voted by corporates and financial institutions in Asiamoney’s Cash Management Poll, the Best Cash Management Bank in Asia Pacific by Euromoney and the Best Bank for Liquidity Management in Asia by Global Finance.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About Citi Global Transaction Services
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’ss Global Transaction Services supports over 65,000 clients. As of the third quarter of 2009, it held on average $314 billion in liability balances and $11.8 trillion in assets under custody.