Citi Named Best Global Supply Chain Finance Provider and Best Supply Chain Finance Provider North America and Latin America
New York - May 26, 2011 – Citi announced that it has once again been named Best Global Supply Chain Finance Provider by Global Finance Magazine, as part of its annual “Supply Chain Provider” rankings.
Additional recognition includes a repeat win for Best Supply Chain Finance Provider in North America and a first-time ranking for Best Supply Chain Finance Provider in Latin America. Also, Citi along with U.S. Ex-Im Bank and CNH America were awarded Best Customer Implementation of Supply Chain Financing Solution. These rankings will be published in an exclusive survey in the July/August 2011 issue of the publication.
“We are extremely pleased to receive these awards,” said John Ahearn, Global Head of Trade for Citi’s Global Transaction Services. “We are committed to delivering specialized solutions across the spectrum of trade finance including supply chain and working capital management, trade services and export and agency finance. ”
Global Finance editors – with input from industry analysts, corporate executives and technology experts – selected the best providers of supply chain financing and management services. A variety of subjective and objective criteria were used for choosing the winners. Factors considered included: market share and global coverage, product innovation, customer service, technology, execution skills and client-specific implementations. Regarding the Best Supply Chain Finance Provider Ranking, Giarraputo said “The awards recognize those providers and customer implementations that deliver real cost savings, working capital benefits and efficiencies for buyers and suppliers as well as those firms that have developed innovative credit frameworks in order to extend financing deeper into the supplier chain.”
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, Citigroup’s Global Transaction Services business supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and $13 trillion in assets under custody.
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. For more information, please visit: www.citigroup.com.
About Global Finance
Founded in 1987, Global Finance has a circulation of 50,050 and readers in 163 countries. Its circulation is audited by BPA. Global Finance’s audience includes chairmen, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance also targets the 8,000 international portfolio investors responsible for more than 80% of all global assets under professional management. Its website — www.gfmag.com — offers analysis and articles that are the heritage of 22 years of experience in international financial markets, and provides a valuable source of data on 192 countries. Headquartered in New York, with offices in London, Rio de Janeiro and Milan.