Citigroup Launches 'Citigroup Trade University,' Innovative Web-Seminars on Global Trade
Solutions-Based, Educational Program for Clients Leverages Citigroup’s Market Expertise
New York, NY– May 09, 2006 — Global Transaction Services, a business unit of Citigroup Corporate and Investment Banking, launches Citigroup Trade University, a monthly series of Web seminars showcasing a comprehensive curriculum of global trade topics. This educational program is designed specifically to help Citigroup’s clients benefit from its expertise and knowledge of the global trade marketplace.
Thought Leadership and Intellectual Capital
“We are using this new channel — Citigroup Trade University — to provide thought leadership to, and share intellectual capital with our clients, “ said Claudia Slacik, Global Head, Trade Services and Finance, Global Transaction Services. “Global trade is a dynamic marketplace — highly competitive, endlessly evolving and constantly influenced by political, economic and cultural forces. This series is designed to help our clients understand and navigate this changing marketplace, by providing them with a core educational toolset of the factors and forces affecting global trade.”
Citigroup Trade University has been designed to educate clients on the practical and pragmatic aspects of trade. Citigroup trade experts conduct the sessions, with the curriculum emphasizing the practical application of market-proven solutions. Seminar topics range from the most current innovation in trade documentation to the most sophisticated trade financing solutions. The interactive format, with the sessions conveniently accessible through a straightforward log-on procedure, allows for a vigorous exchange of ideas among the participants.
Export Letters of Credit – Benefits in cross-border
Citigroup Trade University’s inaugural session was on “Unlocking the Benefits of Export Letters of Credit.” Focusing on multiple applications of this documentation instrument, a key trade finance vehicle, the Webinar addressed the benefits export LCs can provide to help mitigate risk, streamline supply chains and increase overall efficiency in cross-border trade. Attendees at the initial seminars included trade, logistics and financial management executives representing a broad cross-section of business sectors and industries, from aerospace, apparel and automotive to chemicals, pharmaceutical and technology.
Dave Conroy, Global Head of Trade Sales said, “Client response to our Trade University has been very positive, and we are experiencing a high volume of enrollment for future sessions. The level of feedback tells us that we are addressing a key client need by launching this educational series.”
From LCs to Open Account – Advantages for importers
The second topic covered in Citigroup Trade University was “Effective Terms of Trade for Importers: Migrating from LCs to Open Account Terms.” In addition to providing attendees with an in-depth understanding of the trend toward Open Account, this online session included a thorough examination of LC and Open Account terms, a comparison of assorted cross-border trading structures and the importance for importers of developing an effective Open Account strategy.
A new global trade topic is featured monthly, with two sessions devoted to the same subject to accommodate client-scheduling needs. The next seminar — a two-part program — will focus on trade trends, opportunities and solutions for the Latin America market and will be held on May 30 and May 31.
“As a leader in the field, we are constantly looking for ways to enrich and educate our clients with the latest solutions and services in the trade universe. This program gives us an effective distribution channel to share this knowledge with our clients,” Citigroup’s Slacik continues, ”and we look forward to expanding the scope of this program to provide the trade expertise our clients’ need for their continued growth worldwide.”
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.