Citigroup Wins Cash Mandates in China
Shanghai, November 29, 2006 — Citigroup announced cash management mandate wins in China at the 4th annual EuroFinance Conference on Cash, Treasury and Risk Management in China, which was held on November 8-9, 2006 in Shanghai.
This year's conference, sponsored by Citigroup Corporate and Investment Banking, was the last industry wide event before China's WTO full liberalization process commences on December 11, 2006. The conference provided a forum for cash management experts and China-based treasurers to discuss trends, innovations and case studies on how best to deal with the challenges faced by treasurers in China.
Recognizing their recent mandate wins, Citigroup's banking seniors held signing ceremonies for several clients. Among them was Danaher, a leading manufacturer of professional instrumentation, industrial technologies, and tools and components.
"Danaher in China is delighted to partner with Citigroup for our cash and liquidity management needs," said Samuel Liao, CFO for Danaher Asia. "We are confident that this partnership will elevate our relationship to a new level."
Citigroup is China's leading cash management bank for large corporations and offers the widest range of liquidity and web-enabled solutions in the market. Nigel Dobson, Citigroup Asia Pacific Head of Cash Management, who delivered the keynote address at the opening of the EuroFinance conference predicted, "With the global treasury model about to take off, China's cash management solutions will become increasingly sophisticated as new techniques develop through bank cooperation and the harnessing of global solutions."
Brett Krause, Head of Citigroup's Global Transaction Services in China said, "The excellent participation in cash management seminars at EuroFinance demonstrates that companies are seeking new and a broader range of cash management solutions. Citigroup is fully committed to meeting our clients' needs by delivering the best cash management solutions available in China through continuous innovation, training and our unique award-winning quality of service."
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
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.