Citigroup Corporate and Investment Banking Receives 'Top Rated' Rankings and First-Ever 'Best in Class' Awards for North America and Asia in Global Custodian's 2006 Mutual Fund Administration Survey
New York, August 9, 2006 — Citigroup's fund administration capabilities in North America and Asia received "Top Rated" rankings and for the first time was recognized as "Best in Class" in the 2006 Mutual Fund Administration survey conducted by Global Custodian. In addition, the publication recognized Citigroup as the "only genuinely global fund administrator" for the second consecutive year.
The Global Custodian Mutual Fund Administration survey, now in its fifth year and recognized as a benchmark for the industry, evaluates the performance of fund administrators with each other and within individual markets. The findings are based on interviews with the administrators' clients around the world.
Global Custodian's new "Best in Class" awards recognize excellence in servicing clients of different sizes, types and locations. Citigroup's North American capabilities received this designation across all 8 service areas, while Asia was cited in 7 of the 8.
In addition to the market-leading findings for North America and Asia, the survey results noted Citigroup's worldwide scope and the quality of client service. In its description of Citigroup's mutual fund administration capabilities, Global Custodian reported: "This survey reinforces the claim of the bank to be the only genuinely global fund administrator, just as it seeks to be the only genuinely global custodian and third-party clearing agent."
"Because the Global Custodian ratings are based on the real-world assessments and opinions of fund administration clients," said Neeraj Sahai, Global Head of Securities and Fund Services, Citigroup Corporate and Investment Banking, "these rankings demonstrate our continuing focus on meeting the needs of our clients while enabling asset managers to execute on their growth strategies by providing access and local market expertise in more countries and regions than anybody else in the industry. We are especially pleased with the 'Best in Class' accolades for North America and Asia, which means that the survey respondents rated the quality of our capabilities above all other fund administrators' in these highly competitive marketplaces."
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.