Citi Launches New Latin America Trade Desk in Asia
The new Trade Desk operating in Shanghai serves as a link for Latin American clients to Asia
Sao Paulo, Brazil - March 7, 2012 – Citi’s Global Transaction Services announced today the launch of its new Latin America Trade Desk in Asia based in Shanghai, China. The Latin America Trade Desk will serve as a link for Latin American clients to Asia.
The specific needs of importers and exporters, as well as market practices for trading between these two unique regions, are addressed by a complete and tailored suite of trade services and finance solutions, including:
- Access to Citi’s wide global trade network and local expertise through its proprietary branch network in over 40 countries in Asia and Latin America.
- Alternatives to resolve domestic funding constraints through a single window operational gateway which will boast over 3,000 correspondent bank relationships in Asia.
- Unique operational efficiencies and financial benefits to facilitate and support the increasing trade flows as their businesses expand into the other region.
- Integrated solutions that use its state-of-the-art technology platforms, local market trade experts and round-the-clock processing centers in Latin America and Asia to optimize cross-border trade settlement processes, reduce operational costs, and mitigate the risks associated with trade transactions on the other side of the world.
"In Latin America, Citi is among the first to launch solutions specific to the market needs of both Latin America and Asia. Our knowledge and understanding of the fast-paced changes in Emerging Markets to Emerging Markets flows allow us to develop best-in-class solutions and value-added propositions that best address these market trends and the needs of both sides of the trade transaction," says Renato Faria, Global Transaction Services Trade Head for Latin America & Mexico.
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 95 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2011, it held on average $368 billion in liability balances and $12.5 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. 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.
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