Banco Popolare Scarl and Citi Expand Custody Relationship
Verona/ London, December 12, 2007 – Banco Popolare Scarl, one of the largest banking groups in Italy, and Citi, the leading global financial services company, today announced they have expanded their existing custody relationship to include the assets of Banco Popolare Scarl's institutional asset manager clients.
“Over the years, Citi has demonstrated it is a provider who meets Banco Popolare Scarl's objectives of increasing operational efficiencies while providing economies of scale. We are delighted to continue doing business with them,” said Mariateresa Chiecchi, Head of Administration Services at Banco Popolare Societa' di Servizi.
“Citi is pleased that Banco Popolare Scarl has chosen to deepen its relationship with us. The appointment underscores Citi's commitment to provide best in class solutions by establishing long-lasting relationships with our clients,” said Patrizia Rizzo, Head of Citi's Global Transaction Services business in Italy.
About Banco Popolare Scarl
Banco Popolare (BP), headquartered in Verona, was established on 1 July 2007 following the approval of the Extraordinary Shareholders' Meetings of Banco Popolare di Verona e Novara and Banca Popolare Italiana on 10 March 2007. BP is the third largest banking group in Italy and ranks first amongst the country's popolari banks. It is a landmark of the popolari banking sector in which it has demonstrated its ability to grow with continuity and assiduousness for almost 150 years. While being ready to face the new challenges deriving from the globalisation of financial markets, BP preserves its strong territorial roots through the local commercial banks that form it (Banca Popolare di Verona S.Gemianiano S.Prospero Spa, Banca Popolare di Lodi Spa, Banca Popolare di Novara Spa, Credito Bergamasco, Cassa di Risparmio di Lucca Pisa Livorno and, moreover, Banca Popolare di Cremona, Banca Popolare di Crema, Banca Popolare di Mantova, Banca Caripe and Banca Popolare del Trentino). BP has a network of about 2,200 branches, a market share of about 10% in Northern Italy and a portfolio of more than 3 million customers. The Group is a fully fledged financial services provider, with retail banking, corporate banking and private & investment banking/asset management
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, Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.