Citigroup to Offer Enhanced Collateralized Debt Obligation (CDO) Trustee and Administrative Services in Europe
London– May 17, 2006 — Global Transaction Services, a business of Citigroup Corporate and Investment Banking, today announced it would provide enhanced Trustee and Collateral administration services to the collateralized debt obligation (CDO) marketplace in Europe. As a leading agency and trust provider in the region, Citigroup will compliment its existing capabilities for managed synthetic deals with full functionality for cash CDOs. As a part of its offering, Citigroup will be providing Trustee, Paying Agency, Portfolio Administration and Calculation Agency services to its clients.
Dirk Jones, Managing Director and Global Sales Head of Citibank Agency and Trust said, “The CDO market represents a key component of Citigroup’s European expansion strategy for the Agency and Trust business. Our decision to enhance CDO services is a direct response to our client’s requests for a full suite of products from a single relationship bank. Citigroup’s CDO expansion is a testament to our commitment to the business and to developing solutions to meet the growing needs of our clients.”
Citibank Agency and Trust is a leading provider of corporate trust services with a unique blend of experience, financial strength, global reach and superior service. Citibank Agency and Trust manages in excess of US$3 trillion in fixed income and equity investments on behalf of 2,500 corporations 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, securities brokerage, and wealth 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
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.