Citi Receives 'Top Rated' Rankings In Four Categories In Global Custodian's 2007 Mutual Fund Administration Survey
For First Time, Citi Tops League Table in North America
North America and Asia Fund Administration Capabilities Recognized as 'Best in Class' Across All Service Areas
New York – Citi markets and banking today announced that its fund administration capabilities received "Top Rated" rankings in four categories in the 2007 Mutual Fund Administration survey conducted by Global Custodian. Specifically, Citi was cited for its market-leading expertise in Asia and North America, and for funds with less than $100 million in assets under management and for funds with between $1 billion and $5 billion AUM.
Of particular note, the respondents to the Global Custodian survey acknowledged Citi's fund administration strengths in North America, where, for the first time, it topped the survey's categories. And as further evidence of its global reach and the depth of its mutual fund administration capabilities, Citi received "Best in Class" recognition in both North America and Asia across all service areas surveyed.
In addition to the chart-topping findings for North America and Asia, the survey results noted — for the third consecutive year — Citi's worldwide scope. "Once again," Global Custodian reported, "the giant American bank can lay just claim to be the only genuinely global fund administrator."
The Global Custodian Mutual Fund Administration survey, now in its sixth 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 answers to a questionnaire divided into eight service areas, and includes feedback from respondents from around the world. In this year's survey — the largest in its history — the number of respondents rose by a third to more than 430.
"We are delighted with our showing in this year's Global Custodian survey," says Bob Wallace, Global Head of Fund Services, Citi markets and banking. "Because the ratings are based on the respondents' real-world experience with fund administrators worldwide, the results confirm that the marketplace is increasingly recognizing the value of the innovative solutions our fund administration experts are delivering to fund clients of all sizes around the world. We are particularly pleased with the market's recognition of our fund administration capabilities in North America."
Citi markets and banking is the most complete financial partner to corporations, financial institutions, institutional investors and governments in the world. As a global leader in banking, capital markets, and transaction services, with a presence in many countries dating back more than 100 years, Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.
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 the 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.