CITI RECEIVES ‘TOP-RATED’ OR ‘COMMENDED’ RANKINGS ACROSS ALL CATEGORIES IN GLOBAL CUSTODIAN’S 2008 ‘GLOBAL CUSTODY’ SURVEY
Global Custody Capabilities Also Recognized with Record 60 ‘Best-in-Class’ Awards
New York - February 24 – Citi announced today that it has received "Top Rated" or "Commended" rankings in every category in the 2008 "Global Custody" survey conducted by Global Custodian. It was also recognized with an all-time-high 60 "Best in Class" awards in the service areas surveyed by the publication and strong feedback from clients on its custody offering.
This year’s findings mark the first time that Citi’s Global Transaction Services business has received consistently high results in all nine surveyed categories. Last year, Citi received "Top Rated" or "Commended" rankings in eight of the nine categories.
In its editorial coverage of the 2008 survey results, Global Custodian wrote:
- "Citi is one of only two custodians capable of putting together an integrated but modular product set."
- "Its strategy is enticing and clients are buying into the idea."
- "What matters is that the biggest clients are the ones most impressed and Citi gets its best scores from large clients who are able to appreciate its strategy."
- "Institutional investors as well as fund managers value the global reach offered by the proprietary sub-custody network."
As evidence of Citi’s consistently strong performance across the marketplace, the magazine commented: "Scores from fund managers are up in virtually all areas."
Among the comments submitted by clients about Citi’s global custody capabilities were:
- "Strong in global markets and offers [a] comprehensive Internet reporting and transaction loading facility."
- "Staff are flexible and responsive."
- "Our customer service is excellent."
- "Citi understands its issues and the importance of the relationships, and offers competitive pricing too."
"We are very pleased with our record showing in this year’s Global Custodian survey," said Chandresh Iyer, Head of Global Custody and Investment Administration Services, Citi. "Most important are the accolades we have received from institutional investors and fund managers as they speak to our strategy of enabling client choice and flexibility across multiple asset classes, and in delivering solutions that meet our client’s strategic needs."
This year marks the 17th Global Custodian annual survey of global custodian banks, and the eighth to incorporate the perceptions of clients. Clients submitted a questionnaire designed for either Institutional Investors (pension funds and insurers not managing funds) or Fund Managers (any entity managing funds, including insurers and pension funds).
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, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.