LONDON, VIENNA - September 18, 2008 - Citi’s Global Transaction Services announced today that it has been awarded a new mandate from Erste Group Bank. The Vienna-based banking group which serves more than 16 million clients in Central and Eastern Europe, has selected Citi to provide a single integrated electronic execution and custody solution, which combines Citi’s trade life cycle including order to trade, to settlement automation platform and on to Citi's award-winning proprietary custody branch network.

Citi launched Citi (R) Execution to Custody in the EMEA region in June 2008, targeting market intermediaries to address client demand for post-MIFID solutions. The Citi (R) Execution to Custody service provides a single counterparty to execute, settle and provide custody in all major execution markets worldwide. Through the linking of Citi’s capital markets and securities capabilities, Citi provides clients like Erste with a premium service, removing the operational inefficiencies and risks that come from dealing with multiple providers.

Citi continues to be noted as a top rated broker and custodian with an expanding network of execution venues and the largest proprietary custody market. Citi (R) Execution to Custody offers Erste Group Bank an end-to-end offering of global equity market executions, algorithms, DMA, smart routing trade processing/aggregation, global and domestic markets clearing, settlement, asset servicing, regulatory and position reporting, statements/billing and client support. The ability to provide integrated services in multiple markets built on a single infrastructure with a standardised setup positions Citi to best serve clients with Direct and Global Custody needs.

Alexander Schleifer, Head of Custody and Network Management at Erste Group Bank said, "Erste’s choice of Citi’s custody solution will bring the optimal cooperation between Erste Group Bank with its unbeaten footprint in Central and Eastern Europe and Citi with its global footprint and its brokerage and custodial capabilities in the US."

Andrew Gelb, Managing Director and Regional Head of EMEA Securities and Funds Services (SFS), Citi said, "The opportunity to work with a bank as prestigious as Erste Group Bank is one that we are extremely pleased about. The appointment by Erste Group Bank underscores our commitment to provide our clients with innovative solutions through our extensive resources, technology, expertise and global reach. Citi continues to be a market leader in smart ordering and asset routing by acting as a single counterparty to execute, settle and provide custody in all major execution venues.

Citi’s Global Transaction Services 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. As of the 2nd quarter of 08, it held on average $276 billion in liability balances and $12.8 trillion in assets under custody


About Citi’s Institutional Clients Group:
Citi’s Institutional Clients Group serves corporate clients, governments and institutional investors around the world, providing expertise and innovative solutions in banking, markets, transaction services and alternative investments. With a history dating back nearly 200 years, Citi today has a global network that includes offices in 104 countries, trading desks in more than 80 countries and transaction services infrastructure covering 140 countries. Citi aims to be trusted advisor to our clients, to execute flawlessly, to strategically commit capital and to always focus on innovation.

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, Banamex and Nikko. Additional information may be found at or

Erste Group Bank was founded in 1819 as the first Austrian savings bank and has developed over the last ten years to one of the largest financial services providers in Central and Eastern Europe. Erste Group Bank is with its more than 54,000 employees one of the leading financial providers in CEE, serving more than 16 million clients in 3,000 branches in 8 countries (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia, Serbia, and Ukraine). As of 30 June 2008 Erste Group Bank has reached 214.2 billion EUR total assets, net profit of EUR 636.6 million and ROE of 14.7 %. For more information, please enter