CITI RECEIVES 'COMMENDED' RANKINGS IN SIX CATEGORIES IN GLOBAL CUSTODIAN’S 2009 'SECURITIES LENDING' SURVEY
Securities Lending Capabilities Also Recognized with Five 'Best-in-Class' Awards
New York - July 14, 2009 – Citi today announced that it has received "Commended" rankings in six categories in the 2009 "Securities Lending" survey conducted by Global Custodian. It was also recognized with five "Best in Class" awards in the service areas surveyed by the publication and strong feedback from clients on its securities lending offering.
In its editorial coverage of the 2009 survey results, Global Custodian wrote:
- "This was a strong performance by Citi in exceptionally difficult circumstances."
- "After all, no bank can rival Citi, whose proprietary network covers over 50 markets, for global coverage."
- "The bank is also a full service provider with a remarkably well balanced business spread across domestic and international equities and fixed income."
As evidence of Citi’s strong performance, the magazine commented: "Average scores are up in more than two out of three questions and five out of eight service areas."
Among the comments submitted by clients about Citi’s securities lending capabilities were:
- "Very responsive and communicative."
- "Very strong communication and customer service."
- "Trading desk always willing to speak to you direct[ly] and always looking [at] and enhancing [the] program."
- "Excellent job handling the credit crisis of ’08."
"We are pleased with our showing in this year’s Global Custodian survey," said Timothy Douglas, Head of Global Securities Finance, Citi. "The most significant outcome of this survey are the accolades that we have received from our clients as they speak to our capabilities and commitment to our clients’ needs."
This marks the 2nd year that this survey was separated from the annual Global Custody Survey and is a survey of beneficial owners and not borrowers. The total number of providers rated rose from eight to twelve and the rate of response increased on this year’s survey by 5%.
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.