CITI EXPANDS GLOBAL CUSTODY PROXY VOTING SERVICES TO 92 MARKETS
Significant Expansion Accounts for complete coverage of Citi’s Global Custody Network
New York - September 30, 2009 – Citi announced today the expansion of its global custody proxy voting services for clients to 92 markets. The expansion will allow investors to utilize the web-based offering to view proxy agendas and vote on all companies held in their portfolios through the same channel. Votes are tabulated and delivered to the local market in accordance with market practice.
"This major expansion of our proxy voting services, specifically developed to meet the needs of global investors, provides greater flexibility and better tools for managing corporate governance decisions to our clients through increased market coverage and enhanced proxy voting opportunities," says Chandresh Iyer, Head of Global Custody, Citi. "For the benefit of our clients, we have made remarkable progress over the past year, increasing proxy voting coverage from 70 markets to the current 92 providing our comprehensive services in all 92 markets worldwide to account for 100% of meeting volume."
As investors’ participation in voting increases, the expansion of proxy voting services emphasizes Citi’s position as a world-class global custody provider, offering a comprehensive portfolio of benefits to clients, including:
- Premier proxy processing infrastructure
- Advanced technology that allows for customizable solutions
- Industry-specific expertise and participation
- Web-based tools to facilitate communication
- Real-time, online reporting
In addition to its local and global custody services, Citi’s Investor Services include mutual fund and alternative investment solutions as well as investment administration services for institutional, high net worth and separately managed accounts and securities finance.
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.