Citi Announces Key Appointments in Global Transaction Services

New York — Citi Markets & Banking today announced two key management appointments in Global Transaction Services that reflect the momentum of its business and the evolving needs of its clients.

Francesco Vanni d'Archirafi has been appointed as the new head of Global Cash Management. Mr. Vanni d'Archirafi was previously Citi's head of Global Transaction Services for Europe, the Middle East and Africa. He will relocate to New York from London in the coming months.

Julie Monaco has joined Citi as Head of Global Transaction Services for North America, a new position reflecting the strategic thrust and importance of the U.S. and Canada within this global business. Ms. Monaco was previously responsible for core treasury management services including payments, receivables and trade finance, most recently serving as Product Executive for FX, for the transaction services business at JP MorganChase.

Paul Galant, CEO of Citi's Global Transaction Services, said:

"Our clients are dealing with many changing forces all over the world including regulation, technology, markets and competition. Working with our partners across Citi, we need to anticipate these evolving requirements and create more innovative and targeted solutions that take into consideration their corporate banking and capital markets activities. These new appointments will give us a better understanding of client needs in developing the next generation of cash products, and building out our franchise in North America."

In his previous role, Mr. Vanni d'Archirafi had responsibility for managing all transaction services products and client relationships in Europe, the Middle East and Africa, across 53 countries. In his new position, he will be responsible for bringing this same "hands on" client focus to the development and rollout of global cash management products. He has been with Citi for over 24 years, and is a member of Citi's Management Committee, and Chairman of Citibank Europe plc.

Ms. Monaco has core industry experience having worked, both at JPMorgan Chase and previously at Deutsche Bank. In this new role, she will be responsible for improving the client focus in the region, which in turn will drive growth in the cash management, securities and fund services, and trade services and finance businesses.

Global Transaction Services, a division of Citi Markets & Banking, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network spanning over 100 countries, Citi's Global Transaction Services supports over 65,000 clients, clears, on average, more than 752,000 securities trades weekly and processes more than $3 trillion in payments each day. It holds, on average, $189 billion in liability balances under administration and $10.4 trillion in assets under custody and trust, and has the world's largest commercial letter of credit portfolio, whose value exceeded $7 billion in 2006.

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About Citi
Citi, 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 Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.