Citi Appoints Carlos A. Perez as Head of Correspondent Banking

Previously Head of Financial Institutions Group, Americas at Wachovia/Wells Fargo

New York - September 2, 2009 – Citi today announced that is has appointed Carlos A. Perez to the role of Global Head of Correspondent Banking in the Global Transaction Services group. Carlos is an acknowledged leader in correspondent banking, with more than 28 years of experience in international banking, with a specialization in servicing financial institutions.

Prior to joining Citi, Carlos was the head of Financial Institutions Group, Americas at Wachovia, responsible for leading a team in building Wachovia’s significant position in Latin and North America.

"Carlos’ broad industry expertise across product, credit and risk management, his breadth of relationships, and unquestioned track record in building a world-class franchise, makes him an ideal person to drive our Correspondent Banking business into the future," comments Bharat Sarpeshkar, who heads Bank Services at Citi. Sarpeshkar’s organization is comprised of experienced bankers who are focused on servicing the unique needs of Citi’s financial institution clients.

As Head of Correspondent Banking, Carlos has end-to-end responsibility for the development and strategic growth of the business in terms of market share, customer satisfaction and product quality. His focus, and that of his team, is to bring innovative solutions to market and to drive initiatives that deepen Citi’s strategy to be the 'trusted partner' with its bank clients and correspondent network that reaches 3500 financial institutions around the world.

An original member of CoreStates Bank management team, Carlos built a solid record of achievement and advancement beyond the First Union Bank and Wachovia Bank mergers. Carlos held various senior positions with the Wachovia/Wells Fargo franchise since joining in 1990, including business development and financial institutions head. Before joining CoreStates, Carlos was with First Interstate Bank of California for nine years where he held roles as assistant representative for FICAL in Mexico and Representative in Brazil.

Carlos has a Master's degree in International Business Administration from the Monterey Institute of International Studies and an undergraduate degree in Economics from Rutgers University.

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About Citi Global Transaction Services
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2009, it held on average $288 billion in liability balances and $11.1 trillion in assets under custody.

About Citi
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.