Citigroup Named Global Winner and Best Overall Bank For Cash Management
Global Finance Names Top Award and Four Regional Awards in Asia and Latin America
New York, May 27, 2003 - Citigroup is the Global Winner and Best Overall Bank for Cash Management according to Global Finance in the World's Best Treasury and Cash Management Providers Survey, published in their April 2003 issue.
Citigroup was also selected as the Best Bank for Liquidity/Working Capital Management in Latin America; the Best Bank for Cross-Border Pooling and Netting in Asia and Latin America; and the Best Bank for Payments and Collections in Latin America.
Global Finance editors with input from industry analysts, corporate executives and technology experts considered market leadership, customer service, competitive pricing and innovative technologies in choosing the winners.
Citigroup was praised in the survey for having the "people and systems in place to enable clients to make their money work harder and smarter." The survey stressed that the key to effective cash management for a corporation is to have your money where you need it when you need it and commended CitiDirect® Online Banking, our award-winning Web-based corporate banking platform for providing seamless access to business banking products via the Internet, just about anywhere in the world.
"We are pleased to win this award from Global Finance. With complex business pressures affecting organizations worldwide, our clients turn to us for critical counsel and guidance. Serving as their trusted advisor, we help clients manage and monitor working capital more efficiently, streamline transaction processes, and realize greater operational efficiencies in over 100 countries around the world," said Paul Galant, Global Head of Cash Management, Citigroup Global Transaction Services.
About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company
with some 200 million customer accounts in more than 100 countries,
provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, insurance, securities
brokerage, and asset management. Major brand names under Citigroup's
trademark red umbrella include Citibank, CitiFinancial, Primerica,
Smith Barney, Banamex, and Travelers Life and Annuity. Additional
information may be found at:
www.citigroup.com.
About Citigroup Global Transaction Services
Citigroup® Global Transaction Services is a leading
provider of integrated cash management, trade and securities services
for corporations, financial institutions, intermediaries and governments
around the world. With over $ 85 billion in average liability balances,
more than $ 5 trillion in assets under custody and the largest proprietary
branch network, Citigroup's award-winning operating systems and
Internet-based delivery channels enable clients to manage and monitor
working capital and investments more efficiently, streamline transaction
processing cycles, and re-engineer receivables and payment processes.
Citigroup® Global Transaction Services provides clients
with access to Citigroup's full range of capabilities and solutions
along with an on-the-ground presence and in-depth knowledge of more
than 90 local markets. For additional information, see
www.transactionservices.citigroup.com.
