Citi Wins Best Local Custodian in Asia
Citi has been named Best Local Custodian in Asia ex-Japan, ex-Australia for 2008 by Asia Asset Management magazine. 2008 marks the first year that Citi has been named Best Direct Custody and Clearing Bank, complementing a highly successful 12 months for this business in Asia Pacific.
Citiís win follows the launch of several major initiatives in 2008, including the continued expansion of its Account Operator and Third Party Clearing services in selected regional markets. Additionally, the award is testament to Citiís strong relationships with the regionís major exchanges and regulators, which are continuingly evolving in both depth and scope.
ďCitiís Direct Custody and Clearing franchise continues to serve clients in more countries, introduce groundbreaking product launches and gain widespread recognition for providing the most innovative solutions in the market. Winning this prestigious award from Asia Asset Management is testament to our ongoing success and market leadership,Ē said David Russell, Managing Director and Regional Head of Securities and Fund Services, Global Transaction Services, Asia Pacific.
The Asia Asset Management Award marks the latest round of editorial and survey recognition achieved by Citiís Securities and Fund Services business in Asia Pacific. In 2008, Citi was named Best Direct Custody and Clearing Bank and Best Provider of Middle Office Outsourcing by AsianInvestor. More recently, the respondents in Global Custodianís Global Custody Survey 2008 voted Citi as the Top Rated Custodian in Asia.
The award comes as Citi is continually expanding its Direct Custody and Clearing presence regionally and globally. In December 2008, Citi launched full Direct Custody and Clearing services in Bangladesh while more recently capabilities have been expanded to include the United Arab Emirates. Globally, Citi now provides an unrivaled footprint of Direct Custody and Clearing services covering 57 markets.
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