CITI WINS BEST LOCAL CUSTODIAN IN ASIA
Asia Asset Management names Citi Best Local Custodian in Asia ex-Japan, ex-Australia
ALL LOCATIONS - February 17, 2009 – Citi has been named Best Local Custodian in Asia ex-Japan, ex-Australia for 2008 by Asia Asset Management magazine. 2008 marks the first year that Citi has been named Best Direct Custody and Clearing Bank, complementing a highly successful 12 months for this business in Asia Pacific. Citi’s win follows the launch of several major initiatives in 2008, including the continued expansion of its Account Operator and Third Party Clearing services in selected regional markets. Additionally, the award is testament to Citi’s strong relationships with the region’s major exchanges and regulators, which are continuingly evolving in both depth and scope.
"Citi’s Direct Custody and Clearing franchise continues to serve clients in more countries, introduce groundbreaking product launches and gain widespread recognition for providing the most innovative solutions in the market. Winning this prestigious award from Asia Asset Management is testament to our ongoing success and market leadership," said David Russell, Managing Director and Regional Head of Securities and Fund Services, Global Transaction Services, Asia Pacific.
The Asia Asset Managemen Award marks the latest round of editorial and survey recognition achieved by Citi’s Securities and Fund Services business in Asia Pacific. In 2008, Citi was named Best Direct Custody and Clearing Bank and Best Provider of Middle Office Outsourcing by AsianInvestor. More recently, the respondents in Global Custodia’s Global Custody Survey 2008 voted Citi as the Top Rated Custodian in Asia.
The award comes as Citi is continually expanding its Direct Custody and Clearing presence regionally and globally. In December 2008, Citi launched full Direct Custody and Clearing services in Bangladesh, while more recently, capabilities have been expanded to include the United Arab Emirates. Globally, Citi now provides an unrivaled footprint of Direct Custody and Clearing services covering 57 markets.
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 approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides 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, transaction services and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.