Institutional Business

We are a trusted partner, supporting innovation and growth globally for corporate clients through Citi's network in 98 markets.

The goal of Citi's Institutional Clients Group (ICG) is to serve as our clients' most important and most trusted banking partner by offering a comprehensive set of innovative products, services and solutions around the world in an integrated and responsible manner, creating sustainable value for shareholders.

Through our unmatched, worldwide proprietary network with a physical presence in 98 markets, Citi is uniquely positioned to take advantage of evolving global trends and provide large multinational corporations, public sector entities, ultra high-net-worth households and investment managers with a full suite of integrated products and services.

A trusted advisor and lender to our institutional clients, supporting innovation and growth for corporations, Citi provides cash management and trade solutions to 80 percent of Global Fortune 500 companies to help them conduct daily operations, to hire, to grow and to succeed. In the public sector, Citi helps build sustainable infrastructure, housing, transportation, schools and other vital public works for the future. With trading floors in 77 markets, clearing and custody networks in 63 markets and connections with 400 clearing systems, Citi maintains one of the largest global financial infrastructures and facilitates approximately $4 trillion of flows daily on average. This is what enables Citi to serve its core clients with distinction.

Using a disciplined approach that has allowed us to deliver industry-leading efficiency and returns while investing in our talent, we have created a culture that is committed to enabling growth and progress through responsible finance.

Capital Markets Origination

Citi's Capital Markets Origination business is focused on the capital-raising needs of institutional clients, from inaugural issuances and exchanges to cross-border transactions and first-of-their-kind landmark structures.

Institutional Business

Owing to an unmatched global footprint and diverse range of financial products, Citi aims to be the first choice among issuers for clients' underwriting needs. Citi's track record of successfully executing in both buoyant and challenging market conditions is a testament to Citi's unwavering commitment to provide the highest quality service to clients. Citi's structuring and execution expertise has established the firm as a leader in the equity capital markets, whether measured by innovation or proceeds raised, and has distinguished Citi as the clear choice for debt underwriting, with excellence across a broad range of currencies and markets.

Citi successfully executed several landmark transactions for clients in 2017. Citi structured and committed to a bridge financing facility of $16 billion on a sole basis on behalf of BD (Becton, Dickinson and Company) to facilitate its acquisition of C.R. Bard, Inc. Citi then served as lead left bookrunner for all permanent financings for the company, including its $5 billion of simultaneous equity and mandatory preferred offering, $10 billion of bond offerings across multiple maturities, a $2+ billion of term loan and $2+ billion revolving credit facility. We served as joint global coordinator on the €7 billion rights issue for Banco Santander in connection with its agreement to acquire Banco Popular. Citi served as sole financial advisor to Banco Santander on the transaction.

Citi also served as the joint lead financial advisor and jointly underwrote a $4.65 billion credit facility supporting the $17.9 billion privatization of the Singapore-listed Global Logistic Properties, acting as the facility agent and security agent for the credit facilities and also provided foreign exchange hedging solutions and ratings advisory services to the client. This was the largest ever private equity buyout of an Asian company and also the largest ever M&A in Singapore. Citi served as exclusive M&A financial advisor, co-structuring bank and placement agent to Ørsted, a global leader in offshore wind power, on the sale and financing of a 50 percent stake in Walney Extension, a U.K. offshore wind farm project in the Irish Sea. The offshore wind farm will have a total capacity of 659 megawatts—enough to power more than 500,000 U.K. homes with clean, renewable energy. The proceeds of the £2 billion sale will partially fund the construction of the offshore wind farm, which will be the largest in the world once commissioned.

Citi acted as the sole placement agent for a $307.5 million debt private placement for an Infrastructure Public Private Partnership to develop, finance, construct, operate and maintain the on-campus housing portfolio for Wayne State University in Detroit, Michigan. Corvias, LLC provided the equity. The partnership includes construction of 841 new beds, renovation of 368 beds and the management of the existing 2,950 beds. The construction is essential to meet exploding student demand for housing at Wayne State, a premier institution and Detroit's only public research university.

Corporate and Investment Banking

Citi's Corporate and Investment Banking division provides comprehensive relationship coverage to ensure the best possible service and responsiveness to clients.

Corporate and Investment Banking

With its strong banker presence in many countries, Citi uses sector and product expertise to deliver global capabilities to clients wherever they choose to compete. Citi's Corporate and Investment Banking client teams are organized by industry and by country. Each team is composed of two parts: Investment Banking Strategic Coverage Officers who focus on mergers and acquisitions and equity and related strategic financing solutions, while Corporate Bankers—in partnership with Citi's Capital Markets specialists and with support from the Global Subsidiaries Group—deliver corporate banking and corporate finance services to global, regional and local clients. By serving these companies, we help them grow, creating jobs and economic value at home and in communities worldwide.

Citi played a key role in some of 2017's most significant transactions, including its role as financial advisor to Intel Corporation on its $14 billion acquisition of Mobileye N.V. Citi served as a financial advisor to Johnson & Johnson on its $31 billion acquisition of Actelion, as well as a financial advisor to BD (Becton, Dickinson and Company) on its approximately $25 billion acquisition of C.R. Bard, Inc. and provided the $16 billion sole committed bridge in support of the transaction. Citi also served as exclusive financial advisor to Deere & Company on its $5.3 billion acquisition of Wirtgen Group. The transaction represents Deere's largest M&A transaction in its 180-year history.

Markets and Securities Services

Citi's Markets and Securities Services business provides world-class financial products and services as diverse as the needs of the thousands of corporations, institutions, governments and investors that Citi serves.

Markets and Securities Services

Citi works to enrich the relationships, products and technology that define its market-making presence. The global breadth, product depth and strength of Citi's sales and trading, distribution and research capabilities span a broad range of asset classes, currencies, sectors and products, including equities, commodities, credit, foreign exchange, emerging markets, G10 rates, municipals, prime, futures and securities services businesses, providing customized solutions that support the diverse investment and transaction strategies of investors and intermediaries worldwide.

Citi ranked first in Fixed Income Market Share globally for the third consecutive year according to Greenwich Associates' annual benchmarking study. With a global fixed income market share topping 10 percent, Citi has grown its share more than any other sell-side firm over the last 10 years. Citi's leading market position is driven by its strength in Global Credit and Global Rates, ranked #1, respectively, along with the top spot in Municipal Bonds. Citi also ranked #1 in Sales Quality, Trading Quality and e-Trading, according to the study. Awarded Best Global Digital Bank by Euromoney in 2017, Citi's digital mindset has never broken from the path of progress. Throughout 2017, we invested in the digital ecosystem to further enhance the client experience, sales trading and analytics capabilities and productivity. Citi is one of the leading dealers engaged in actively identifying, evaluating and investing in FinTech firms and deploying innovations across all capital markets asset classes. Citi also partnered with WeWork and opened a London-based Innovations Lab. In Business Intelligence and Big Data Analytics, several leading data capabilities—including Velocity Clarity—went live using natural language processing, and investments were made in blockchain technology. Citi Velocity®, the award-winning capital markets platform, leverages the power of agile business and technology teams, bringing two software releases per day on average to our global client base.

Private Banking

Citi Private Bank is dedicated to serving the world's wealthiest individuals and families. Its unique business model enables us to focus on fewer, larger and more sophisticated clients with a net worth in excess of $100 million. Private Bank clients enjoy an entirely customized experience with access to a comprehensive range of products and services.

Private Banking

Its exclusive Global Client Service facilitates clients' growing appetite for global financial assets by leveraging Citi's offices and capabilities worldwide, allowing our clients to open accounts across the globe with dedicated local bankers who, together, will work as one united team to provide a seamless cross-border service. This translates into tailored advice, competitive pricing and timely execution for their capital markets needs, financing and refinancing in both commercial and residential real estate globally, and access to Citi's Corporate and Investment Bank locally for business activities in their respective region.

With more than a thousand Family Office clients around the world, Citi Private Bank's teams understand the challenges that families and family office executives regularly face: serving family offices of varying size and complexity, executing multi-disciplinary strategies based upon each client's requirements, working with each family to create a strategy to help meet the family's unique objectives, and combining the personalized service of a private bank with sophisticated cross-border strategies that are typically reserved for major institutions. Citi frequently serves clients with family members, businesses and foundations that span multiple geographies around the world, and regional client teams work with a small number of Family Office clients in order to ensure high levels of service. This extensive offering includes brokerage, investment management, lending, banking, trust, custody and a wide range of corporate advisory and financing services.

Citi Private Bank has deep experience with the transition of personal wealth following significant liquidity events, and our partnership with other businesses in ICG enables its shared clients to seamlessly manage both their business and private financial interests. Citi is committed to objective advice and a truly open architecture investment platform, and with access to global capital markets, cash management, lending solutions, wealth planning and trust services, we can meet the needs of the world's most sophisticated clients.

Treasury and Trade Solutions

Citi's Treasury and Trade Solutions (TTS) business provides integrated cash management and trade finance services to multinational corporations, financial institutions and public sector organizations around the globe.

Treasury and Trade Solutions

With the industry's most comprehensive suite of digital-enabled platforms, tools and analytics, TTS leads the way in delivering innovative and tailored solutions to clients. Offerings include payments, receivables, liquidity management and investment services, working capital solutions, commercial card programs and trade finance. Based on the belief that client experience is the driver of sustainable differentiation, TTS has focused its efforts on transforming its business to deliver a seamless, end-to-end client experience through the development of its capabilities, client advocacy, network management and service delivery across the entire organization.

In 2017, TTS improved the efficiency of its global network by launching API-driven connectivity services and global solutions for payments and receivables. The CitiConnect® API allows clients to directly connect with Citi across 96 countries to access services using their own Treasury Workstations or Enterprise Resource Platform, providing convenience, potential cost savings and reduced risk.

Partnering with Nasdaq, Citi participated in a pioneering blockchain and global banking integration that enabled straight-through payment processing and automated reconciliation by using a distributed ledger to manage payment instructions. This collaboration created a solution that integrates blockchain technology with Citi's global network-leveraging API technology. Citi also provided the payment processing services for Allianz Global Corporate & Specialty SE in a successful trial of blockchain technology for a global captive insurance program, including cash transfer between countries.

TTS continues building integrated global solutions to optimize its global payments network in an efficient and consistent manner. These solutions offer clients the ability to participate in commerce in new markets, through low-cost payment options delivered through digital channels. Citi expanded the global reach of its services to support the growing needs of corporations to receive and initiate payments. Citi Payer ID was launched in 17 new markets across North America and Western Europe, making it now available in 44 countries to allow institutional clients to manage their working capital with greater efficiency. Citi's WorldLink® Payment Services capability expanded cross-border ACH capabilities to 60 countries, offering a simple, global and digital cross-currency payments solution with service offered across a range of payment options in 135 currencies and 195 countries.

Our Trade business continues to help our clients with various strategies to optimize their working capital around the globe. In addition, we continue to drive innovation in our back office using optical character recognition to drive efficiencies and enhance our client experience.