Citi Launches Issuer Services, Agency and Trust in the Middle East

Citi announced today it is providing on-shore agency and trust capabilities to clients in the Middle East. It will initially focus on the UAE, Bahrain and Kuwait.

Mohammed Al-Shroogi, Managing Director for the Middle East and Chief Executive Officer for Citi in the UAE, said, “Global capital flows are being redirected from the West to the Middle East and the region is growing strongly as a result. We have had a significant presence in the Middle East for the past five decades and are furthering our commitment with the addition of an agency and trust franchise. Citi opened new branches in Qatar and Kuwait in 2007 and is now extending services to Shari’a compliant escrow services, settlement agent and security agent roles.”

Murali Subramanian, Cluster Head of Global Transaction Services and Acting Head of Global Transaction Services in the UAE said, “Our offering reflects the level of maturity the Middle East has attained. This represents an opportunity for us to better serve the region while expanding services for our global clients, who continue to rapidly increase their Middle Eastern investment.”

Citi’s Issuer Services has industry leading experience in documenting and executing deals ranging from sukuk transactions, through Shari’a compliant escrow arrangements, bespoke structured solutions and the most complex project financings and structured finance transactions in all geographies. Debt issuers, investment banks, collateral managers and investment managers rely on Citi for a variety of agency, debt and fiduciary services to support the full spectrum of capital market transactions.

Through the largest proprietary network in the world, Citi combines comprehensive knowledge of local market practices with extensive access to local market participants. Citi Issuer Services supports assets under custody in excess of $4 trillion in debt and equity and is the largest common depository in EMEA.