Citigroup Cited as "Top Rated" Agent Bank across Asia in Global Custodian's 2005 Emerging Markets Survey
Achieves “Pole Position” in Both China and Korea
New York, NY—February 6, 2006 — Citigroup’s agent banking capabilities have been cited as “Top Rated” across Asia in the Global Custodian 2005 Emerging Markets Survey. In China and Korea—two of Asia’s most important economies, with massive potential in the world marketplace—Citigroup achieved “pole position,” the highest ranking among all agent banks.“
Being recognized ‘Top-Rated’ by agent banking clients in Asia confirms Citigroup’s leadership in this burgeoning marketplace,” says Michael Sleightholme, Asia Pacific Head of Direct Custody and Clearing, Global Transaction Services, a business unit of Citigroup Corporate and Investment Banking. “And attaining the industry-leading pole position in China and Korea underscores our commitment to providing superior support to emerging market countries as they develop from purely local markets to increasingly significant roles in the global economy.”
In commenting about Citigroup’s agent bank expertise in China, a respondent to the Global Custodian survey wrote: “This market is not yet perfect in terms of practices. Yet Citibank is able to extend very special help and services.... They have been able to follow up the event from the start till the end. Excellent services.” A survey respondent in Korea noted: “Citibank Korea and in Asia in general are a step ahead of the competition in providing innovative solutions to broker-dealers.”
In addition to China and Korea, Citigroup was cited as “Top Rated” in India, Malaysia, Philippines, Taiwan and Thailand.
Now in its 17th year, the Global Custodian Agent Banks in Emerging Markets Survey is based on analysis of more than 4,200 responses from the cross-border, non-affiliated, domestic and affiliated clearing and custody clients of banks in 61 markets. To secure any of these ratings, banks are assessed by clients in 48 separate service areas, divided into nine service categories. The scores are weighted, averaged and compared to decide which are the leading providers in each market.
Citigroup (NYSE: C), the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at www.citigroup.com.
About Citigroup Corporate and Investment Banking
Our Corporate and Investment Banking group achieves the extraordinary for our clients around the world. No financial institution is more committed to understanding and advancing the goals of its clients - our diverse and talented staff in some 100 countries advises companies, governments, and institutional investors on the best way to realize their strategic objectives. We create solutions for and provide the broadest possible capital and market access to thousands of issuer and investor clients, and no institution better executes the increasingly complex payment and cash management solutions required in today's global economy. Core business lines under Citigroup Corporate and Investment Banking include Global Capital Markets, Global Banking and Global Transaction Services.