CITI CHOSEN AS GLOBAL COMMERCIAL CARD PROVIDER FOR SCHERING-PLOUGH
Comprehensive Program Including Corporate, Purchasing and Fleet Cards
New York - Dec. 17 – NCiti today announced that its Global Transaction Services business has been selected as the preferred global commercial card provider for Schering-Plough Corporation. Citi's best-in-class reporting, wide acceptance and ability to integrate fully with Schering-Plough's internal payment and expense management systems will enable Schering-Plough to streamline its corporate, purchasing and fleet expenses.
"We are pleased that Schering-Plough has chosen us to provide a world-class commercial payments solution. Schering-Plough is a leader in the industry with a strong track record of innovation. We look forward to utilizing our experience and extensive global footprint to provide Schering-Plough's employees with a flexible and scalable global program," said Paul Simpson, Citi's Global Head of Wholesale Card Services for Public Sector Business Solutions and Healthcare.
As a leading issuer of commercial cards globally, Citi is committed to providing solutions that offer greater control and transparency to help clients more effectively manage their payment processes. Citi offers the most widely accepted commercial cards available, with acceptance at 27 million merchant locations and 1.5 million ATMs in 140 countries.
"We are pleased to be partnering with Citi on this program," said Michael Doran, Executive Director, Global Administrative Services, Schering-Plough Corporation. "Citi's global platform and capabilities were an important component in our selection process."
Global Transaction Services, a division of Citi's Institutional Clients Group 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 140 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the 3rd quarter of 08, it held on average $273 billion in liability balances and $11.9 trillion in assets under custody.
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, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
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