Citi’s OpenLendSM Earns the Most ‘Best-in-Class’ Awards in Global Custodian’s 2012 Securities Lending Survey
Excellent Results Demonstrate the Depth and Breadth of OpenLend Securities Lending Capabilities
New York, NY - April 19, 2012 – Citi’s OpenLendSM offering earned the most ‘Best-in-Class’ awards in Global Custodian’s 2012 Securities Lending Survey. Specifically, it received:
- 54 "Best in Class" awards – The most awards won by any provider
- "Top Rated" results in six categories
- Three "1st Place" overall rankings
- Three "2nd Place" overall rankings
In its editorial coverage of the survey’s findings, Global Custodian wrote: Citi’s "scores, up by wide margins for a second year in succession, match surging revenues and profits in the rapidly growing securities lending business of the bank. There is scarcely a question, let alone a service area, where they are not excellent."
"These strong results, definitively demonstrate Citi’s continued leadership in the global securities finance marketplace," said Tim Douglas, Global Head of Investment and Financing Solutions, Citi’s Transaction Services. "The results offer further evidence of the depth and breadth of OpenLend’s market-leading capabilities and the value of the solutions which our OpenLend offering delivers to our clients, regardless of their size, geography region, and service requirements."
Among the comments about Citi’s OpenLend program cited in the survey, the respondents said:
- "An all-round excellent performer as an agency lender"
- "Robust processes in place and understand our business"
- "High quality of relationship managers"
Global Custodian’s Securities Lending Survey aims to measure the services provided by agent lenders. This year, 190 responses were received on behalf of 18 providers. The survey questionnaire consisted of 33 questions in nine service categories: Earnings Performance, Risk Management, Relationship Management, Collateral Management (newly added this year), Client Service, Product Development, Reporting, Operational Capabilities, and Compliance with Client Guidelines.
Citi OpenInvestorSM is the investment services solution for today’s diversified investor, combining specialized expertise, comprehensive capabilities and the power of Citi’s global network to help clients meet performance objectives across asset classes, strategies, and geographies. With an on-the-ground presence in over 95 countries and over $13 trillion in assets under custody, Citi offers award winning service and unmatched scale. Citi provides complete investment services for institutional, alternative, and wealth managers delivering middle office, fund services, custody, investing and financing solutions focused on clients’ specific challenges, customized to their individual needs.
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 Transaction Services supports over 65,000 clients. As of the first quarter of 2012, it held on average $377 billion in liability balances and $13 trillion in assets under custody.
Citi, the leading global bank, 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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