Institutional Investor Ranks Citi the Number-One Global Custodian for Seventh Consecutive Year
New York, November 20, 2007 – Citi today announced that it has been recognized as the number one global custodian in Institutional Investor's annual Global Custodian Ranking for 2007. This achievement marks the seventh consecutive year that Citi has topped the publication's league tables for global custody assets.
"The world's custodians are being called upon to provide more complex services to their clients than ever before," reports Institutional Investor. In this marketplace, custodians are required to "adapt to the increasingly international nature of institutional portfolios - underscoring the global in global custody. "
"We are very pleased that Institutional Investor has once again recognized us as the leading global custodian," says Mary Fenoglio, Head of Global Custody, Securities and Fund Services, Citi. "This acknowledgment by such a prestigious publication confirms that our global custody network - which spans 86 markets, of which 49 are proprietary -- gives us in-depth local market knowledge and expertise, while our regional service centers and advanced processing technologies allow us to deliver excellence in quality and execution, as well as tailored services to our clients. This award-winning combination is why financial institutions and corporates around the world turn to Citi."
Citi's Fenoglio adds: "Service providers need to offer a continuum of services that allow clients to select the appropriate bundle of investor services that meet their specific business requirement. Rather than concentrating on scale alone, we at Citi are focused on broadening our portfolio of products with complementary offerings to anticipate and meet clients' evolving needs."
Institutional Investor's Global Custodian Ranking is based on information provided via questionnaires by the world's banks about their global custody assets, which is supplemented by extensive staff research. Global Custody assets include any assets invested in financial instruments outside the home country of the client, and exclude assets in a client's domestic market.
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. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.