CITI RECEIVES MARKET-LEADING 21 TOP RATED RANKINGS IN GLOBAL CUSTODIAN’S 2008 EMERGING MARKETS SURVEY
Improved Record Results Highlight Global Reach and Local Market Expertise
New York - March 16 – Citi announced today that it has received 21 Top Rated rankings across 14 markets -- more than any other agent bank -- in Global Custodian’s 2008 Agent Banks in Emerging Markets Survey. Citi improved its ratings in the Survey’s Global category from Commended to Top Rated for both Leading and Cross-Border/Non-Affiliated clients. Citi also improved its ratings in the Americas with Colombia and Venezuela receiving Top Rated marks this year. In addition, Citi’s recently opened market, Israel, successfully qualified and was awarded with a Commended rating for the first time.
Citi’s expertise was recognized as Top Rated by clearing and custody clients in the emerging markets including China, Colombia, Cyprus, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Romania, Thailand, Turkey and Venezuela.
"We are very pleased with our market-leading position in this year’s Global Custodian Emerging Markets Survey," said Lee Waite, Global Head of Direct Custody and Clearing, Citi. "The broad geographic range of our Top Rated rankings - from countries in Asia, the Americas & Caribbean and Central & Eastern Europe -- reflects the consistently high level of service we provide our clients around the world. Our premier results in the Survey are further evidence that our dedication to client-first service is delivering agent banking solutions that meet our clients’ strategic needs worldwide."
Among the comments made by clients in the Global Custodian 2008 Agent Banks in Emerging Markets Survey:
- "Citi has proven to be a preferred provider."
- "They are the gold standard of Indian sub-custody."
- "Citi provides superior relationship management, flexibility, market knowledge, market influence and is a great partner in the market."
- "Citi has improved an already excellent client service team and continues to exceed expectations."
- "A world-class provider."
- "Citi is a strong provider in the market."
- "The staff is knowledgeable of the market and their client’s needs."
- "Continues to improve from better to best."
- "Good product knowledge and very helpful in changing our strategic infrastructure in the Thai market."
- "Citi takes a pro-active part in problem resolution."
- "We felt that Citibank Peru did a very good job in handling new reserve requirements imposed in the market in 2008."
- "Their e-mailed notices and client conference calls were much appreciated."
- "Citi continues to be the top provider in the market."
- "The services rendered by Citi are high."
- "A good team who will provide that extra value-added service when required."
- "Always flexible and willing to help - well done."
- "Citi continues to provide an excellent service."
Now in its 20th year, the Global Custodian Agent Banks in Emerging Markets Survey is based on analysis of more than 4,430 responses from clearing and custody clients of banks in 64 emerging markets. It aims to measure clients’ perceptions of the quality of the people, technology and services agent banks bring to the provision of sub-custody and local clearing and settlement. Agent banks are eligible for either Top Rated or Commended status. To secure any of these ratings, banks are assessed by clients on 63 questions in 11 separate service areas. The scores are weighted, averaged and compared to decide which are superior to global benchmarks.
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.