FEATURE/Research Shows Citigroup Perceived to be Global Banking Leader.

--(BUSINESS WIRE FEATURES)--

Over the past decade, the financial industry has seen a number of mergers and acquisitions take place providing "one-stop shops" for their customers. Citicorp merged with Traveler's Corp., HSBC acquired Midland Bank and Swiss Bank Corp. absorbed UBS AG to name a few.

Other such consolidations are in progress to strengthen their position in the industry and to provide an integrated range of financial services. So which bank is now perceived as the global banking leader?

According to Irene Lang, vice president for Total Research Corporation of Princeton, N.J., "Citigroup obviously has powerful brand equity as it scores significantly on all counts and is the only bank that is seen as a millennium leader by respondents in all three geographic regions of the survey."

On the brink of welcoming the 21st century, Total Research Corp. surveyed 100 leading investment professionals from financial institutions -- such as banks, insurance companies and brokerage houses -- in May of this year, to determine which banks were perceived to be leaders for the new millennium. Specific issues were future growth, investment track record, quality of management, customer focus, responsibility to the community/environment and to employees, and financially sound.

Corporate investors -- otherwise known as managing directors, senior vice presidents, chief economists, chief investment officers, fund managers, investment analysts and financial journalists -- in financial institutions in North America, Europe and the Asia Pacific region were queried.

"This report provides useful benchmarking information to those organizations involved in the entire spectrum of banking services," Lang said. "Because we have the views of a professional and well-informed audience -- opinion leaders and opinion formers -- we think that the banks mentioned should use this data to capitalize on perceived strengths and, at the same time, taking action on perceived weaknesses."

Of the international banks perceived as global leaders for the new millennium, Citigroup heads the list with 67 percent of the respondents vote. Deutsche Bank was second with 42 percent, while HSBC and UBS AG shared third place with 26 percent and Chase Manhattan followed with 21 percent. A global leader is defined as a company with a worldwide influence and presence.

In all, 27 banks were listed. All of the top five banks are "universal" banks in that they have the potential to provide an integrated range of financial services to corporate and private customers, which include investment banking, commercial banking and private banking. Two of the banks are based in the United States while the other three are headquartered in Europe.

Citigroup is perceived as a global leader by corporate investors in all three regions, receiving 73 percent of the vote in each of North America and Europe while getting 42 percent of the share in Asia. While Citigroup and Deutsche Bank ran one-two in the regional perceptions, surprisingly more respondents in North America think that Deutsche Bank will be a global leader in the new millennium than respondents in either Europe or Asia.

Some of the perceptions of Citigroup's global leadership is its global network (a company with worldwide international business), followed by size (a company with large human and capital resources and a large share of the market) and corporate strategy (a company with a reputation for successful strategic mergers, alliances and acquisitions), reflecting the recent merger with Traveler's Corp.

While Citigroup and Deutsche Bank scored high as global banks, BSBC, UBS and Chase Manhattan are the leading regional banks. HSBC and UBS scored high in Europe while Chase Manhattan rated strong in the U.S.

Merrill Lynch, ranked sixth in the research study, is the highest rated investment bank. The company rated above the average on most of the issues by corporate investors and its strong rating on products and services may reflect its role as a specialized investment bank, based on product performance and investment track record.

Total Research Corp. is a leading professional marketing research and consulting firm that provides domestic and international custom research services, proprietary research technologies, tracking programs and quality management programs.

Established in 1975, Total Research is an innovator in design, application and interpretation of advanced statistical techniques to help companies make improved strategic and tactical business decisions. In addition to its acknowledged leadership in predictive marketing research, Total Research conducts descriptive and diagnostics studies for major corporations in the consumer, business-to-business, and industrial markets.

For information in North America, contact Irene Lang at Total Research, 5 Independence Way, Princeton, N.J. 08543-5305; tel: [phone]; fax: [phone] or e-mail: [e-mail]. In Europe or Asia, contact James "Jake" Forman; tel: [phone] or e-mail: [e-mail].

NOTE TO EDITORS: For a complete copy of this report, please contact Irene Lang at Total Research Corp., 5 Independence Way, Princeton, N.J. 08543-5305; tel: [phone]; fax: [phone].