CITI APPOINTED REGIONAL CASH MANAGEMENT BANK BY HOSPIRA
HONG KONG - Feb. 5 – Citi’s Global Transaction Services has been named by Hospira, Inc. (Hospira), one of the world’s leading specialty pharmaceutical and medical delivery companies, as its primary cash management bank across Asia Pacific. In acting as regional cash management bank for Hospira, Citi will provide cash and liquidity management solutions for the company across seven markets in Asia Pacific consisting of Australia, Hong Kong, Malaysia, New Zealand, Philippines, Singapore, and Taiwan.
Under the mandate, Citi will provide Hospira with an array of innovative and efficient solutions to optimize cash and liquidity management across Asia Pacific. These solutions include account services, e-banking platforms, liquidity and investment solutions, payables and receivables services.
For Hospira, mandating Citi is consistent with its goals of partnering with a bank with a regional presence and the ability to innovate and customize. By partnering with Citi, Hospira will receive numerous benefits to its existing cash management and liquidity structure in Asia Pacific. In each country, Citi will simplify banking structures, improving controls and transparencies, while also providing a consistent and standardized cash management platform in all markets.
In winning Hospira’s Asia Pacific cash management business, Citi continues its leadership in securing a virtual clean sweep of all regional deals in Asia Pacific. The deal is also significant in further solidifying Citi’s unmatched ability to provide the complex solutions based on product strength and end-to-end support.
Todd Williams, Area Treasurer, Asia Pacific at Hospira said: "We are currently working on several cash management initiatives in Asia Pacific and we are extremely pleased to partner with Citi to achieve our objectives of standardization and consistency in this region."
Ivo Distelbrink, Managing Director, Regional Head of Treasury and Trade Solutions Sales, Asia Pacific and Japan said: "By winning Hospira’s cash management business, Citi continues to display unmatched leadership in providing cash management solutions to the world’s largest pharmaceutical firms. We are proud to partner with Hospira for their regional cash management needs in Asia Pacific, helping them streamline and improve efficiencies across its treasury functions, which is ever more important in today’s environment."
Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing WellnessTM. As the world leader in specialty generic injectable pharmaceuticals, Hospira offers one of the broadest portfolios of generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management solutions. Through its products, Hospira helps improve the safety, cost and productivity of patient care. The company is headquartered in Lake Forest, Ill., and has more than 14,000 employees. Learn more at www.hospira.com. (NYSE: HSP)
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.