Citibank Tops Major Markets in Global Custodian Magazine Survey.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 11, 2000 Receives `Top-Rated' or `Commended' Status in 14 Major Markets - more than any other agent bank; Citibank Asia Branches are fully `Top-Rated' Citibank announced today that it received `Top-Rated' or `Commended' status in 14 major 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 magazine's 2000 Major Market Agent Bank Review. The 14 total rated markets and 7 `Top-Rated' markets were the most by any other agent bank. Citibank received `Top-Rated' status in Australia, France, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Japan, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Singapore and Spain, and `Commended' status in Canada, Germany, Italy, The Netherlands, Portugal, United Kingdom and United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Citibank received 24 `Top Rated' or `Commended' ratings in Global Custodian's Emerging Markets Agent Bank Review released in January of 2000, bringing the total number of rated markets received in 2000 to 38 - more than double any other provider. Including the emerging markets ratings, Citibank's network in Asia is now fully `Top-Rated.' "We are delighted to receive this honor," said Sandy Jaffee, Division Executive for Citibank Worldwide Securities Services. "While we have historically been considered strong in the emerging markets, these results confirm the quality of our service delivery in developed markets as well. Our clients clearly value doing business with a provider who combines broad global reach with extensive local market presence." 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 cross-border clients. Information for the third-party survey is gathered during three months of interviews and questionnaires sent to global custodians, 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, and commitment/fees. So far in 2000, Citibank Worldwide Securities Services has received the following survey ratings: 'Top-Rated' branches: Argentina France Korea Singapore Australia Greece Malaysia Spain Brazil Hong Kong Mexico Taiwan Chile Hungary New Zealand Thailand China India Russia Turkey Colombia Indonesia Peru Venezuela Czech Republic Japan Philippines 'Commended' branches Canada Morocco Portugal Egypt The Netherlands United Kingdom Germany Pakistan United States Italy Poland 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 $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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