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Citi and the NeuGroup Release Principles That Define World-Class Cash Management

Culmination of year-long collaboration – led by corporates, for corporates – identifies core treasury and cash management characteristics to guide treasury departments to become world-class

New York, NY - November 7, 2011 – Citi and The NeuGroup announced the results of a year-long collaboration to identify core treasury and cash management principles designed to guide any treasury department aspiring to become world-class. The joint research program between Citi’s Global Transaction Services and NeuGroup’s Global Cash and Banking Group (GCBG) was comprised of 25 Fortune 500 senior treasury practitioners from across a variety of industries.

The GCBG surveyed industry stakeholders on a wide range of cash management topics. The result is a series of principles, developed by corporate practitioners, across 15 treasury operations and cash management categories. These will aid companies in defining what a world-class treasury operation looks like and help them determine when they have achieved their goals.

The principles focus on what is needed to drive success and covers categories from organization structure to liquidity optimization, operational efficiency, and technology. With increasing globalization, corporate treasury departments will benefit from the definition of these principles, which provide a road map for ongoing change.

This was a collaborative exercise where each party brought expertise and tools to the project.

  • "Participating in this project was a great opportunity and did a lot to affirm much that we have in place while also giving guidance for future initiatives," said Nellie Lee, Assistant Treasurer at Bechtel Corporation, a GCBG member.
  • "The NeuGroup very much appreciated the relationship with Citi and the tools and knowledge they brought to this project," said Bryan Richardson, Senior Director — Peer Groups, at The NeuGroup. "Our ongoing mandate is to facilitate quality knowledge exchange among senior treasury professionals for the betterment of the profession and this project, with Citi’s support, was another example of accomplishing that objective."
  • "As Treasurers look to gain greater effectiveness in a dynamically changing global environment, we recognized that one of the elements that was lacking in the industry was guidance around what defines ‘world-class,’" said Ron Chakravarti, Managing Director at Citi Global Transaction Services. "Working with the GCBG, we were able to accomplish the mutual goals of identifying guiding principles that will allow companies to evolve their treasury organizations."

Citi’s award-winning Citi Treasury DiagnosticsSM global treasury benchmarking service was used by the GCBG to research, analyze, and develop the principles. Citi Treasury Diagnostics was the perfect complement to The NeuGroup’s member-driven, peer group forum process, which is dedicated to the exchange of knowledge among treasury professionals at global corporations.

  • Citi Treasury Diagnostics provides companies with independent benchmarking of their treasury operations practices. The comprehensive benchmarking service helps companies compare performance across six key pillars of treasury operations. Participants are able to benchmark treasury practices and processes with peers and best-in-class companies worldwide. The service helps companies identify key opportunities and challenges, and provides a basis for prioritizing investments in change.
  • The NeuGroup’s Global Cash and Banking Group (GCBG) is one of 14 peer groups that include treasurer level, functional level and regional level groups. The recently completed project of the GCBG emulated a similar, successful work by The NeuGroup's Foreign Exchange Peer Groups.

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 supports over 65,000 clients. As of the third quarter of 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.

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About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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

Additional information may be found at www.citigroup.com | Twitter: @CitiGTS | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About The NeuGroup
The NeuGroup is an independent financial research and publishing company dedicated to the exchange of knowledge among treasury and finance professionals at global corporations and has been an advocate for treasury practitioners since the 1994. The NeuGroup Network of Peer Groups is an invitation-only group of knowledge-exchange forums for senior treasury executives that combine the elements of networking, benchmarking, and workshops. Each group brings together like-minded professionals to share challenges and solutions within a structured environment. The NeuGroup also publishes International Treasurer and its companion website www.iTreasurer.com.

Additional information about The NeuGroup may be found at www.neugroup.com | Twitter @iTreasurer |Linkedin Group: International Treasurer.