Clients Around the World Vote for Citi as the Best Global Cash Management Bank in Euromoney’s Annual 2008 Cash Management Poll
Citi Sweeps Corporate and FI Client Poll
NEW YORK - October 1, 2008 – Citi today announces its Treasury and Trade Solutions business was voted the #1 Cash Management Bank globally for the seventh time in Euromoney’s annual cash management poll. In addition to capturing the top spot in the global poll, Citi also took top honors with 8 regional awards and 16 country awards as voted for by its Corporate and Financial Institutional clients.
"Our ambition, first and foremost, is to delight our clients with our services and solutions," said Francesco Vanni d’Archirafi, Global Head of Citi’s Treasury and Trade Solutions. "The Euromoney poll provides a significant opportunity for our clients to tell us how we're doing relative to our peers. This win underscores the work being done each day to keep clients at the center of all we do."
"We win when our clients win," added Vanni d’Archirafi. "We deliver innovative cash management solutions, global connectivity and critical information to give our clients the visibility and transparency necessary to enable their treasurers to become change engines. This means open architecture, industrial scale and globally consistent platforms, excellent service, real-time information and the analytical framework to allow them to act on timely advice before cut-off times. Our capabilities enable our clients to administer their business and treasury functions consistently in over 100 countries in which our people serve on the ground."
This year, 6,328 cash managers, treasurers and financial officers were polled from around the world, up from 3,801 in 2007. According to the editors of Euromoney, the increase in participation "shows that corporate treasuries are increasingly aware of the efficiency gains that can be made through streamlined cash management and are eager to learn about the state of the market given the momentous changes that the industry has seen (SEPA, MIFID, etc.) and the current emphasis on liquidity post sub-prime."
Citi ranked #1 in eight regions covered in the poll, including:
- Asia (excluding Japan)
- Central America and the Caribbean
- Central and Eastern Europe
- Middle East
- North America
- South America
Citi was also voted Lead Domestic Cash Management Bank in 16 countries:
- South Korea
In addition to making Citi the #1 Global USD, EUR and YEN transaction bank, financial institution clients cast their votes to make Citi a top-ranking regional winner:
- Best USD transaction bank in North America, Latin America, Europe, Middle East, Africa and Asia
- Best EUR transaction bank in Latin America, Middle East, Africa and Asia
- Best YEN transaction bank in North America, Latin America, Europe, Middle East, Africa and Asia
Citi was also ranked highly by clients in several customer satisfaction categories, including Quality of Performance, Technical Support, Compatibility with Client Systems, Quality of E-Banking Security, COB Capabilities, and Availability of Global Banking Tools.
Citi's Global Transaction Services supports more than 65,000 clients across its global network. As of the second quarter of 2008, it held on average $276 billion in liability balances under administration, and approaching $13 trillion in assets under custody and trust. Citi’s Treasury and Trade Solutions division of Global Transaction Services offers integrated cash management and trade solutions to meet the evolving needs of corporate, public sector and financial institution clients in over 140 countries.
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 www.citigroup.com or www.citi.com.