FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
March 31, 2008
Citi China Opens New Beijing Headquarters
Beijing – Citibank (China) Co., Ltd. ("Citi") announced the opening of its new headquarters in Beijing on March 25. Mr. William Rhodes, Chairman, President and CEO of Citibank, Senior Vice Chairman of Citi inaugurated the new premises at a ceremony held in Beijing.
"Today's opening is an important milestone in the presence and expansion of Citi in China, which dates back to 1902. We now have 4,000 employees in China, in addition to our investments in our local partners, and we will continue to grow here over time, reflecting the importance, size, and scale of China," Mr. Rhodes said.
Other special guests at the ceremony included Vice Governor of Xi Cheng District, Mr. Su Dong, as well as members of the regulatory community, including representatives from the China Banking Regulatory Commission and the People's Bank of China.
The new branch is located at The Excel Centre in the Financial Street area, in the heart of Beijing's financial district. Approximately 250 Citi employees will be housed in the branch, which offers a wide range of products and services to multinational and local companies, Chinese residents and foreign nationals. It features a new Citibank consumer outlet on the ground floor, which includes a CitiGold Service Center designed to provide world-class wealth management services.
"We consider China to be one of our greatest growth opportunities worldwide for Citi. Our new Beijing headquarters is also a reflection of our deep commitment to the city of Beijing. 2008 is of course a special year for Beijing and we are delighted to be expanding our presence in this Olympic year," Mr. Rhodes said.
The new Beijing branch is located at No. 6 Wudinghou Street, Xi Cheng District, Beijing, 100032, P.R. China.
Citi's China network currently comprises twenty-four outlets located in Shanghai, Beijing, Guangzhou, Shenzhen, Tianjin, Chengdu, Hangzhou and Dalian.
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Citi
The leading global financial services company, Citi has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
Citi China
Citi first established an office in China on May 15, 1902, in Shanghai. Today Citi is the premier foreign bank operating in China, offering the broadest product range of any international bank in China. Citi currently operates eight corporate & investment bank branches – Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu, Hangzhou and Dalian, twenty-four consumer bank outlets in Shanghai, Beijing, Tianjin, Guangzhou, Shenzhen, Chengdu, Hangzhou and Dalian. With operations in more than 100 countries around the world, Citi is the most global of all international banks in China.