Citibank Tops Emerging Markets in Global Custodian Magazine Survey; Receives 'Top-Rated' Status in 19 Emerging Markets - More Than Any Other Agent Bank.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 10, 2001 Citibank announced today that it received 'Top-Rated' status in 19 emerging markets, 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. Global Custodian bailee (custodian) n. a person with whom some article is left, usually pursuant to a contract (called a "contract of bailment"), who is responsible for the safe return of the article to the owner when the contract is fulfilled. magazine's 2000 Emerging Markets Agent Bank Review, making it the most acclaimed global network with more 'Top-Rated' ratings than any other bank. The survey is a widely used benchmark for excellence in sub-custody and clearing services. Top ratings were awarded on the basis of above-average customer scores, significant market share and "comments that consistently reflect the bank's ability to go above and beyond client expectation," according to the publication. "This is a great start to 2001. These tremendous results illustrate the teamwork and customer focus of our colleagues in our global franchise who service our customers both in country and from Citi's operations centers The facility or location on an installation, base, or facility used by the commander to command, control, and coordinate all crisis activities. See also base defense operations center; command center. ," said Sandy Jaffee, Division Executive, Citibank Worldwide Securities Services. "Since 1996 we have increased our total number of Top-Rated markets to 26 from just 8. Our focus on transaction execution, product consistency and market expertise is clearly making an impression on the leading global investors and financial intermediaries Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. who use our services." Other key survey findings follow: -- Citibank branches posted the highest scores in 10 markets - four in Asia (Indonesia, Malaysia, Pakistan and Sri Lanka) and six in Latin America (Brazil, Chile, Colombia, Ecuador, Peru and Venezuela). -- Citibank Malaysia achieved the highest score of any provider in any of the 59 emerging and major markets covered by the annual survey. -- Citibank branches received "commended" ratings in 6 markets, up from 5 in 1999. The Global Custodian Agent Bank Review, now in its 12th year, measures agent banks in both major and emerging markets on the quality of service they provide their clients. Information for the third-party survey is gathered during three months of interviews and questionnaires sent to global custodians
The Custodians is terminology in the Bahá'í Faith, which refers to nine Hands of the Cause assigned specifically to work at the Bahá'í World Centre in attendance to the Guardian of the Faith. , brokerage firms, investment managers, insurance companies and other financial institutions. Scores are based on performance in seven categories: settlement, safekeeping Safekeeping The storage of assets or other items of value in a protected area. Notes: Individuals may use self-directed methods of safekeeping or the services of a bank or brokerage firm. , client reporting, account administration, ancillary services, technology, commitment and fees. Of the 21 markets where 'Top-Rated' ratings were awarded, Citibank received the citation in 19. Coupled with Global Custodian's 2000 Major Market Agent Bank Survey released in September 2000, Citibank is the most acclaimed global network with a total of 26 'Top-Rated' markets and 13 'Commended' markets - more than any other agent bank. The rated markets are as follows: 'Top-Rated' branches: Argentina Australia Brazil Chile China Colombia France Greece Hong Kong Hungary India Indonesia Japan Korea Malaysia Mexico New Zealand Pakistan Peru Philippines Singapore Spain Taiwan Thailand Turkey Venezuela 'Commended' branches: Canada Czech Republic Egypt Ecuador Germany Italy The Netherlands Russia Poland Portugal Sri Lanka United Kingdom United States Citibank Worldwide Securities Services (WWSS WWSS Worldwide Satellite Systems (US DoD contract vehicle) WWSS Warfare and Warfare Support System ) is a unit of Citigroup's Global Corporate and Investment Bank. WWSS serves global issuers, investors and intermediaries through the industry's largest proprietary network, spanning 51 countries. It currently provides securities services to more than 2,500 customers worldwide and has more than $4 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt depositary receipt A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue services, and agency and trust services. The local presence of WWSS, supported globally by Regional Service Centers, ensures clients of consistent transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. worldwide, proprietary control of clearing cycles and reduced risk in all cross-border securities transactions. 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 101 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 and Primerica under Citigroup's trademark red umbrella. Additional information can be found at: http://www.citi.com. |
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