CITI WINS MANDATE AS SOLE USD TREASURY CLEARER FOR THE DEXIA GROUP
Amsterdam, New York - October 26, 2010 – Citi announced today that the Dexia Group has reappointed Citi’s Global Transaction Services as their USD treasury clearer for the main subsidiaries and branches of the Group. Citi has also been reappointed as the CLS USD nostro agent for Dexia BIL.
Citi has provided the Dexia Group with USD Treasury Clearing Services for the past five years. Following a thorough review and RFP process, Dexia has reappointed Citi as its sole USD Treasury Clearer, as testament to the Firm’s best in class solution and unwavering support of Dexia. "Citi has been, and will continue to be, a committed USD Clearing provider to the Dexia Group. The partnership with Citi and Dexia deepens as we continue to support their growing international business with our robust clearing solution and operational support" says Bharat Sarpeshkar, Global Head of Bank Services Group, Citi’s Global Transaction Services.
Karl Thirion, General Manager Group Bank Relations, Treasury & Financial Markets at Dexia Group, agrees. "Seamless USD Clearing is critical to our business. Over the past five years, Citi has become a trusted partner and has proven to have a world class solution. We are glad to reappoint Citi as our USD Treasury Clearer."
Citi continues to be one of the largest USD Clearing providers globally. Over the years, Citi has earned worldwide acclaim for understanding the needs of financial institutions and adding immeasurable value to treasury and commercial transactions that consistently exceed customers’ expectations. Combining cross border payments with flexible delivery, backed by the strength of Citi’s vast correspondent network, Citi continues to provide a best in class USD clearing solution to help their clients do business.
Global Transaction Services, a division of Citigroup’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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2010, it held on average $340 billion in liability balances and $12.4 trillion in assets under custody. For more information on Citi’s Global Transaction Services, visit www.transactionservices.citigroup.com/transactionservices/home/
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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 Dexia Group
Dexia is a European bank, with about 35,200 members of staff and core shareholders’ equity of EUR 19 billion as at 30 June 2010. The Dexia Group focuses on Retail and Commercial Banking in Europe, mainly Belgium, Luxembourg and Turkey and on Public and Wholesale Banking, providing local public finance operators with comprehensive banking and financial solutions. Asset Management and Services provides asset management, investor and insurance services, in particular to the clients of the other two business lines. The different business lines interact constantly in order to serve clients better and to support the Group’s commercial activity. For more information: www.dexia.com.