Euromoney 2003 Awards: Citigroup Global Award Best at Cash Management for Second Year and Regional Awards in Asia and Latin America
Awarded Regional Honors as Best in Cash Management and Custody in Asia and Best in Cash Management and Transaction Services in Latin America
24 July 2003, New York - Citigroup was named as the Best at Cash Management and Payments in the 2003 Awards for Excellence published in the July issue of Euromoney. In addition, Citigroup was honored as the Best at Cash Management and Custody in Asia and Best in Cash Management and Transaction Services in Latin America.
In awarding this honor for the second year in a row, Euromoney stated that Citigroup's broad network provides a strong advantage over rivals in cash management in a year when many clients were concentrating on saving costs and streamlining the number of banks they do business with.
In Asia and Latin America regional cash management awards, not only was the bank praised for its broad country network and range of capabilities, but also CitiDirect® Online Banking, the Web-based transaction banking platform was praised for reaching critical mass with a significant increase in client usage around the world. In addition, Citigroup was praised for solving client issues and rolling out additional capabilities and solutions in every region of the world during a difficult year.
In winning the best custody and transaction services awards in Asia and Latin America for the second year in a row, Citigroup was named as 'the only all-encompassing custody provider able to offer global custody and sub-custody.' Also featured were Citigroup's funds administration business, clearing facilities, depositary receipts programmes and agency and trust services. Citigroup was praised for efforts on behalf of clients to lobby for increased efficiency in securities markets across the regions and the world.
"We are pleased to win this award again this year from Euromoney. This past year we realigned our structure internally to allow a clear focus on serving the needs of our clients who turn to us for critical counsel and guidance. Serving as their trusted advisor, we help clients manage and monitor working capital and investments more efficiently, streamline transaction processes, and realize greater operational efficiencies in over 100 countries around the world," said Chris Foskett, Head of Global Sales and Marketing, 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 $ 92 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.
Citigroup Global Transaction Services is part of Citigroup's global
corporate and investment bank, which provides complete financial
solutions to corporations, governments and institutional investors
in more than 100 countries. Award-winning businesses include corporate
and investment banking, sales and trading, transaction services,
commercial finance and insurance products. Additional information
can be found at: www.citigroupgcib.com
