Institutional Businesses

Citi's Institutional Clients Group builds enduring relationships with clients by providing a full suite of strategic advisory and financing products to multinational and local corporations, financial and public sector institutions, governments, privately held businesses and many of the world's most successful and influential individuals and families in more than 160 countries and jurisdictions.

CAPITAL MARKETS ORIGINATION

Citi's Capital Markets Origination business is focused on the capital-raising needs of our institutional clients, from inaugural issuances and exchanges to cross-border transactions and first-of-their-kind landmark structures. Citi is the first choice among issuers for clients' underwriting needs owing to our unmatched global footprint and diverse range of financial products. Our track record of successfully executing in both buoyant and challenging market conditions is a testament to our unwavering commitment to provide the highest quality service for clients. Our structuring and execution expertise has established us as a leader in the equity capital markets, both in terms of innovation and proceeds raised, and has distinguished Citi as the clear choice for debt underwriting, with excellence across a broad range of currencies and markets.

In an environment where new banking activity has been driven by global trends, our unique platform allowed us the best global and local market views of trends, risks, and issuer and investor requirements. In 2013, Citi led some of the most significant capital markets transactions. We served as structuring agent and lead bookrunner on a $927 million enhanced equipment trust certificate with Japanese Operating Lease with Call Options (JOLCO) equity - the first transaction of this type for British Airways – that provided the debt financing on 14 new Airbus and Boeing aircraft to be leased to British Airways. Using our unique global capabilities, Citi was a lead underwriter on the highly successful, cross-border $1.46 billion initial public offering (IPO) and $974 million secondary equity offering for ING U.S., Inc. We were a joint bookrunner for Petrobras' $11 billion, six-tranche offering – the largest-ever bond offering by an emerging markets issuer and the second-largest bond offering of 2013; the largest Brazilian international bond offering; and the largest-ever oil and gas sector bond offering.

Citi also was joint bookrunner for Barclays' £5.95 billion rights issue and served as joint global coordinator and joint bookrunner for VTB's strategic equity and hybrid transactions.

CORPORATE AND INVESTMENT BANKING

Citi's Corporate and Investment Banking franchises provide comprehensive relationship coverage service to ensure the best possible service and responsiveness to our clients. With our strong presence in many nations, we use our country, sector and product expertise to deliver Citi's 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: Strategic Coverage Officers focus on mergers and acquisitions and equity and related financing solutions. Corporate Bankers, in partnership with our Capital Markets specialists and with support from our Global Subsidiaries Group, deliver corporate banking and finance services to global, regional and local clients.

In 2013, Citi served as the trusted advisor for several transformational transactions in the financial markets. We were co-lead financial advisor to Sprint Nextel Corporation on its $36 billion merger with SoftBank Corporation, the largest outbound investment in Japan's history. Citi also acted as financial advisor to Silver Lake Partners on the complex, joint (with Michael Dell) $21 billion acquisition of Dell Inc. We were financial advisor to CNOOC Limited on its acquisition of Nexen for $18 billion, the largest-ever cross-border acquisition by a Chinese company. After successfully defending Elan Corporation plc against another pharmaceutical company's $6 billion hostile offer, Citi acted as financial advisor to Elan on its $9 billion sale to Perrigo Company plc. Financial News awarded Citi the Most Improved Investment Bank of 2013.

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 we serve.

With trading floors in more than 80 countries, we work to enrich the relationships, products and technology that define our market-making presence. The breadth, depth and strength of our sales and trading, distribution and research capabilities span a broad range of asset classes, currencies, sectors and products – including equities, commodities, credit, futures, foreign exchange (FX), emerging markets, G10 rates, municipals, prime finance and securitized markets. Our state-of-the-art Citi VelocitySM platform delivers electronic access to Citi's global footprint and real-time information, giving clients unprecedented access to our capital markets intelligence and services across all product lines. Through our web, mobile and trading applications, clients can find Citi research and commentary and proprietary data and analytics; execute fast, seamless and stable foreign exchange and rates trades; and utilize our suite of sophisticated, post-trade analysis tools.

In 2013, Derivatives Week named Citi Global Derivatives House of the Year, and The Banker named Citi the Most Innovative Bank for Prime Brokerage, Equities, IPOs, Equity-Linked Products and Risk Management. Risk magazine recognized Citi as Client Clearing Service of the Year, and Energy Risk magazine named Citi Energy Risk Manager of the Year.

Our Investor Services and Direct Custody and Clearing businesses provide customized solutions that support the diverse investment and transaction strategies of investors and intermediaries worldwide. Offering a suite of investment administration, portfolio and fund services, trust and custody, and investment and financing solutions, this business helps clients meet the challenges of issuing, managing and distributing financial products and services in today's complex and competitive marketplace. Global Investor recognized Citi as Hedge Fund Administrator of the Year, while Global Finance named Citi Best Sub-Custodian Bank. The Asset magazine gave Citi the Triple A Asset Servicing award.

PRIVATE BANKING

Citi operates one of the world's global private banks, whose teamwork, commitment to service, and ability to see and seize opportunities for our clients set us apart. Our 800 Private Bankers act as trusted advisors to many of the world's most successful and influential individuals and families. The Citi Private Bank network of bankers and product specialists work in 51 offices in 16 countries.

Our comprehensive services are tailored to individuals and families, including entrepreneurs and business owners, single- and multi-family offices, senior corporate executives, next-generation/inherited wealth, law firms and attorneys. From banking and cash management to lending, investment strategies, and trust and wealth advisory services, we are here to support our clients with a comprehensive range of services. Our goal is to deliver expertise and a premier level of service while helping grow, manage and preserve wealth. As we partner with our clients, we can provide global thinking informed by deep local insight and can help deliver the complete financial management strategies that today's wealth requires.

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 across the globe. With the industry's most comprehensive suite of digital and mobile-enabled platforms, tools and analytics, TTS leads the way in delivering innovative and tailored solutions to its clients. Offerings include cash management, payments, receivables, liquidity management and investment services, working capital solutions, commercial and prepaid card programs, and trade finance.

In 2013, Citi launched the CitiDirect BESM Tablet, a new app for iPad devices that provides visibility into important transactional and financial information, supporting decision making and business management for treasury and finance executives. Developed in the Citi Innovation Lab Dublin, this product enables executives to monitor their company's global cash position and payments activity. With a few taps, clients can drill down onto a map or a graph to see the resulting balances and confirm execution of financial strategies. Collectively, CitiDirect BE Mobile and Tablet surpassed $113 billion in total transaction value processed across 90 countries in 16 languages and added key mobile functionalities such as Citi Supplier Finance, Trade Advisor and CitiManager® Mobile. The proprietary client survey by Greenwich Associates recognized Citi in 2013 with a #1 ranking in the Online Services Benchmarking Study.

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