CITI NAMED TOP RATED CUSTODIAN IN ASIA PACIFIC MARKETS
Hong Kong - February 8, 2010 – Citi’s Securities and Fund Services, a division of Global Transaction Services, has been named the Top Rated and Commended provider in numerous Asia Pacific markets in the 2009 Global Custodian Agent Banks in Emerging Market Survey. In this same industry survey, Citi was also named Top Rated for both Leading and Cross-Border/Non-Affiliated (CB-NA) categories for the Asia region.
Based on direct client feedback and responses, Citi was named the Top Rated provider in the Leading, CB-NA and/or Domestic client categories for the Asia region in China, India, Indonesia, the Philippines, Sri Lanka, Taiwan, Thailand and Vietnam.
The results follow the recent announcement that Citi was named Top Rated for the Asia/Australasia region in the 2009 Global Custodian Agent Bank in Major Markets Survey. Citi was also ranked #1 and best-in-class for Asia Pacific for the second year in a row in the 2009 Global Custodian Survey for Global Custody.
Jeffrey Williams, Managing Director, Head of Direct Custody and Clearing, Asia Pacific, Global Transaction Services, said: "Citi’s commitment to our clients inspires us to new heights of innovation, service excellence and quality assurance and this result clearly demonstrates our leadership. We are extremely proud to receive this glowing endorsement of our Direct Custody and Clearing business in Asia Pacific and will continue to partner with all clients as they evolve in this dynamic region."
The results of the 2009 Global Custodian Emerging Markets Survey are framed by approximately 4,500 responses from investors in 64 markets globally. According to Global Custodian, the annual survey, which is celebrating its 20th anniversary, aims to measure service quality and clearing perceptions of agent banks by clients in emerging markets.
Under the survey guidelines, custody and clearing providers in emerging markets were rated by three different client groups- Leading Client, Cross-Border/Non-Affiliated (CB-NA) Client and Domestic Client. To achieve Top Rated status, Citi’s overall weighted and average score was required to be equal or better than the weighted average of other agent banks represented in the survey.
Through its proprietary network in 57 markets, Citi’s Securities and Fund Services business provides the clearing and settlement services required by broker dealers, global custodians and industry infrastructures, to support trading and investing activities around the world. Clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
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 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’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2009, it held on average $335 billion in liability balances and $12.1 trillion in assets under custody.