Miami, Fla. – Citi was awarded Best Sub-custodian Bank in Latin America by Global Finance Magazine in the 2018 Best Sub-custodian Awards; the bank has received this recognition fourteen times. In addition, Citi also won Best Sub-custodian Bank in Argentina, Colombia, Peru, and Mexico (Citibanamex).
Global Finance's editorial board considered market research, input from expert sources and entry information from banks to select the institutions that reliably provide the best services in local markets and regions. The criteria included customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-trade operations, business continuity plans and knowledge of local regulations and practices. Global Finance also obtained input from users of sub-custody services. Performance was judged over the period covering January 1, 2017, through December 31, 2017.
"We are committed to delivering market-leading securities servicing solutions to support the growth aspirations and demands of our clients," said Ricardo Hesse, Citi Securities Services Head for Latin America. "Our market knowledge and relationships created by our widespread local presence enables us to develop new industry solutions and help lead the process of change in the securities marketplace."
Citi Direct Custody and Clearing provides asset servicing and transaction functions primarily to intermediaries such as broker-dealers and banks, and increasingly to fund managers, insurance companies, and other global investors through its proprietary network in 62 markets. Seven of these are located in Latin America.
Across the markets, Citi uses the same main custody systems that are specifically designed to meet the securities business needs which allow the bank to provide consistency in service.
List of awards
The following list of awards were won by Citi and referenced in this press release:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides 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, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
For more information, please visit http://www.citigroup.com/latinamerica.
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