Citi Appointed Successor Depositary for Elan’s ADR Program
London - February 6, 2012 – Citi today announced that its Global Transaction Services business, acting through Citibank, N.A., has been appointed by Elan Corporation, plc ("Elan"), a leading biotechnology company headquartered in Ireland, as the successor depositary bank for its American Depositary Receipt (ADR) program. Elan’s ADRs trade on the New York Stock Exchange under the symbol ‘ELN,’ with each ADR representing one ordinary share. Elan’s ordinary shares are listed on the Irish Stock Exchange.
Liam Daniel, Executive Vice President and Company Secretary, commented: "We are very pleased with the appointment of Citibank as our new ADR depositary and look forward to working closely with them to continue the success of our ADR programme for both our existing and potential shareholders in North America."
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi, said: "We are pleased that Elan has chosen Citi as successor depositary bank for their ADR program. By leveraging our global distribution network and liquidity management services, we’re confident we can deliver the resources required to ensure the success of Elan’s program."
Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $12.5 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
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 95 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2011, it held on average $368 billion in liability balances and $12.5 trillion in assets under custody.
Elan Corporation, plc (NYSE: ELN) is a neuroscience-focused biotechnology company committed to making a difference in the lives of patients and their families by dedicating itself to bringing innovations in science to fill significant unmet medical needs that continue to exist around the world. Elan shares trade on the New York and Irish Stock Exchanges. For additional information about the Company, please visit www.elan.com.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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, transaction services, and wealth management.
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