Citibank Appointed Custodian by Prudential Assurance Malaysia Berhad.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 18, 2000 Mandate Underscores Bank's Commitment to Serving Large Multi-National Investor Clients and Their International Businesses Citibank has been appointed custodian bank Custodian bank Applies mainly to international equities. Bank or other financial institution that keeps custody of stock certificates and other assets of a mutual fund, individual, or corporate client. See: Depository Trust Company (DTC) by Prudential Assurance Malaysia Berhad. Under the appointment, Citibank will provide custody and clearing services to Prudential for its life and investment-linked funds in Malaysia. Prudential Assurance Malaysia (PAM) has been a client of Citibank Bhd since 1993, utilizing Citibank's custody, paylink, lockbox Lockbox A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. , and electronic banking services from its Corporate Bank, as well as merchant services Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or from its Consumer Bank. PAM is also an important part of Citibank's investor base. "We are very pleased with this mandate for Citibank in Malaysia and for the opportunity to expand our relationship with Prudential in Asia. The appointment demonstrates our continued strong focus on servicing multi-national insurance investors and their Asian business, a segment with which Citibank has enjoyed particular success in the past year," said Anthony Galliano, Asia Pacific Region Head for Citibank Worldwide Securities Services. Citibank is one of the largest foreign custodian banks in Malaysia in terms of assets under custody and transaction volume. Citibank is the only custodian bank with direct system interface to the Malaysian Central Depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. . The interface allows for the automatic transfer of instructions and confirmation, thereby increasing settlement efficiency, and makes Citibank volume-insensitive. Citibank Malaysia has been providing custody services to institutional investors since 1985. Its customer base includes leading international as well as domestic institutional investors, mutual funds, private funds, and national government funds. Citibank Worldwide Securities Services Malaysia is Top-Rated in Global Custodian's Emerging Markets Survey, achieving the highest score for Malaysia, and the second highest score in the entire worldwide survey. Citibank was also named #1 Overall Clearing Bank in 1998 and 1999, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. iCB magazine; Best Foreign Bank in Malaysia 1999 and 2000, according to Euromoney's Awards for Excellence, and Best Foreign Commercial Bank in Malaysia 1999 and 2000 by Finance Asia. In September 1999, Citibank Worldwide Securities Services Malaysia was awarded ISO- iso- or is- pref. 1. Equal; uniform: isobar. 2. Isomeric: isopropyl. 3. 9002 quality certification for its provision of custodial services to domestic and cross-border clients. Citibank Worldwide Securities Services (WWSS WWSS Worldwide Satellite Systems (US DoD contract vehicle) WWSS Warfare and Warfare Support System ) is a unit of Citigroup, Inc.'s Global Corporate and Investment Banking Division. WWSS serves global issuers and investors through the industry's largest proprietary network, spanning 51 countries. It currently provides securities services to more than 2,500 customers worldwide and has US$4 trillion in assets under custody. Further information on WWSS can be found at Citibank's website www.citibank.com/corpbank/wwss Citigroup (NYSE NYSE See: New York Stock Exchange :C), the most global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, provides some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Commercial Credit (now named CitiFinancial), and Primerica under Citigroup's trademark red umbrella. Additional information may be found at: www.Citigroup.com |
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