Citi Recognized as Top Rated by Clients for Emerging Market Agent Bank Services
London - March 12, 2013 – Citi is pleased to announce outstanding achievements in the Agent Bank in Emerging Markets Survey conducted by Global Custodian. The survey measures client perceptions of the quality of the clearing and settlement and asset servicing duties of agent banks. These ratings continue to highlight Citi’s success in creating an industry-leading product and service offering to intermediaries, investors, and issuers worldwide.
Highlights of Citi’s performance in the survey include:
- Top Rated in 23 markets for Leading or Cross-Border / Non-Affiliated client categories – the highest number of Top Rated rankings of all providers participating in the survey.
- Top Rated globally among all providers in both Leading and Cross-Border / Non-Affiliated client categories, Top Rated in the Americas, Asia and Central Eastern Europe.
- Increased the footprint of Top Rated markets by 5 compared to last year and improved ratings in 11 markets.
- Achieved 578 Best in Class awards globally, the largest number among all providers rated in the survey.
“We are grateful to our clients for taking the time to complete this survey and that our clients appreciate how Citi’s global banking network and deep local market expertise help them expand their business across regions, borders and time zones,” said Lee Waite, Global Head of Direct Custody and Clearing, Citi. “This survey helps guide us on how we can continue to develop quality products and services tailored to our clients’ needs while we continue to deliver against our commitment to the best-quality service.”
Citi’s Direct Custody and Clearing provides asset servicing and transaction functions primarily to intermediaries such as broker-dealers and banks, and increasingly to fund managers, insurance companies and other global investors through our proprietary network in over 60 markets. The scale of this network, provided through our own offices and staffed with Citi experts in each market, sets us apart from the competition.
Through its Securities and Fund Services business, Citi’s industry-focused experts provide institutional issuers, intermediaries and investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $13.2 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.
About Citi Transaction Services
Citi 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 Transaction Services supports over 65,000 clients. As of the fourth quarter of 2012, it held on average $428 billion in liability balances and $13.2 trillion in assets under custody.
Citi, the leading global bank, 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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