NUS Business School and Citi Launch Joint Undergraduate Course in Transaction Banking
- Tie-up aims to meet demand for graduates in transaction banking
- Taught by both NUS Business School faculty and Citi bankers
Singapore - January 11, 2013 – To cater to the increasing industry demand for transaction bankers, the National University of Singapore (NUS) Business School and Citi Singapore have jointly launched a transaction banking course for undergraduates, marking the first time Citi has joined forces with an academic institution to offer such a course.
The 13-week course starts on January 14, 2013 and will be taught by faculty members of NUS Business School and bankers from Citi Transaction Services (CTS). They will train the School’s undergraduates on the concepts of transaction banking, including product capabilities and services, and help participants understand issues from various perspectives such as that of a transaction banker, corporate treasurer and Chief Financial Officer. Students will be able to apply their acquired knowledge in a course practicum that exposes them to transaction banking issues and cases.
With the need for corporations and institutions to move cash and securities across the global financial system in a safe and efficient manner every day, transaction banking services are at the core of most financial institutions. This sector of the banking industry has been gaining traction for major banks in recent years because of its ability to deliver efficient use of capital, resulting in consistent and reliable revenue streams for their shareholders.
“We are honored to be Citi Singapore’s partner of choice. CTS is an industry leader and the collaboration will give our students invaluable perspectives in transaction banking. On behalf of our students, we thank Citi Singapore and CTS for their devotion to developing the next generation,” said Professor Bernard Yeung, Dean and Stephen Riady Distinguished Professor of NUS Business School.
Professor Yeung added, “As a leading business-school in Asia, we work with industry leaders to cultivate innovative mindsets, and impart cutting-edge skills and practical knowledge to our next generation. The joint course showcases our efforts to offer a deeply analytical and relevant curriculum, which we, at NUS Business School, continually seek to update for the fast-changing global economy.”
CTS offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. In the Asia Pacific region, the CTS team provides on-the-ground relationships in 18 markets and end-to-end transaction banking capabilities.
Mr. Michael Zink, Citi’s Head of Asean and Country Officer for Singapore, said, “As the largest banking employer in Singapore with close to 10,000 employees across the country, we believe we have a role to play in developing the next generation of banking workforce locally to ensure that Singapore continues to have a supply of highly skilled talent to enhance its position as a global financial centre.”
He added, “Partnering with NUS Business School was not a difficult decision. The institution has consistently been positioned highly in international rankings and attracts high-caliber students from diverse backgrounds. For instance, in 2012, The Financial Times ranked the NUS MBA 23rd in the world for the second year running. Students who successfully enroll in the course will get the best of both worlds as the course is structured to offer a good balance between academic rigor and practical application.”
Melvyn Low, Managing Director, Country Head for Citi Transaction Services Singapore, said, “Transaction services have gained strategic importance for banks in recent years as more and more corporates are implementing transaction banking solutions to manage their cash positions across multiple jurisdictions and moving money efficiently across borders. This, in turn, has increased demand for talent in transaction services, where we see a clear shortage.”
He continued, “At present, no local university is offering transaction banking courses to undergraduates. The partnership with NUS Business School aims to bridge this gap to meet the increasing demand in the market for such talent.”
The joint course will be a permanent feature in NUS Business School’s undergraduate program and will be open to students who have successfully completed the Corporate Finance module. It will admit up to 50 of the school’s undergraduates this year. The students will be graded at the end of the course.
About National University of Singapore (NUS)
A leading global university centered in Asia, the National University of Singapore (NUS) is Singapore’s flagship university which offers a global approach to education and research, with a focus on Asian perspectives and expertise.
NUS has 16 faculties and schools across three campuses. Its transformative education includes a broad-based curriculum underscored by multidisciplinary courses and cross-faculty enrichment. Over 37,000 students from 100 countries enrich the community with their diverse social and cultural perspectives.
NUS has three Research Centers of Excellence (RCE) and 23 university-level research institutes and centers. It is also a partner in Singapore’s fifth RCE. NUS shares a close affiliation with 16 national-level research institutes and centers. Research activities are strategic and robust, and NUS is well-known for its research strengths in engineering, life sciences and biomedicine, social sciences and natural sciences. It also strives to create a supportive and innovative environment to promote creative enterprise within its community.For more information, please visit www.nus.edu.sg.
About NUS Business School
National University of Singapore (NUS) Business School is known for providing management thought leadership from an Asian perspective, enabling its students and corporate partners to leverage global knowledge and Asian insights.
The school has consistently received top rankings in the Asia-Pacific region by independent publications and agencies, such as The Financial Times, Economist Intelligence Unit, and QS Top MBA, in recognition of the quality of its programs, faculty research and graduates. In The Financial Times Global Rankings, the NUS MBA was ranked 23rd in 2012, while the UCLA – NUS Executive MBA and Asia-Pacific Executive MBA were ranked 5th and 26th, respectively, in 2012.
In the biannual 2011 Forbes rankings for two-year MBA programs, NUS Business School was ranked the top school in Singapore and Asia, and fourth among business schools outside the United States – the first time a Singapore business school has made the list. The Quacquarelli Symonds (QS) ranked the school first in Asia and eighth in the world for accounting and finance.
The school is accredited by AACSB International (Association to Advance Collegiate Schools of Business) and EQUIS (European Quality Improvement System), and is a member of the GMAC Council, Executive MBA Council, Partnership in Management (PIM) and CEMS (Community of European Management Schools) – endorsements and affiliation with organizations of high repute in the education circle that the school has met the highest standards for business education.For more information, please visit bschool.nus.edu.sg.
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.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About Citi Transaction Services
Citi 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 third quarter of 2012, it held on average $415 billion in liability balances and $12.8 trillion in assets under custody.