Citi Increases Presence in Singapore with New Global Operations and Technology Hub in Changi Business Park

The eco-friendly center for innovation and excellence is a first for Citi in the Asia Pacific.

Singapore – Citi today took another step to entrench its presence in Singapore with the opening of its new global operations and technology building at Changi Business Park. The purpose-built hub, a first for Citi in the Asia Pacific, is a center of operations and technology excellence accommodating some 2,000 staff and serving various Citi businesses across 40 countries around the world. Acting Minister for Information, Communications and the Arts, Rear Admiral (NS) Lui Tuck Yew officiated at the opening ceremony

The 200,000-square feet new building hosts a number of Citi’s major processing hubs, including the Regional Service Center for securities and funds administration and the Regional Cash Processing Management Unit. In addition, it also houses global processing centers for wealth management, transaction services operations, technology infrastructure support and data center services for multiple Citi businesses in Asia Pacific and globally.

Andrew Butcher, Regional Head, Operations and Technology, Citi Asia Pacific, said, "Citi was one of the pioneer financial institutions to centralize and set up operations and technology strategic hubs in Singapore. Today’s opening reaffirms our belief in Singapore’s superb infrastructure and reliable connectivity that enables us to deliver best-in-class financial O&T services to our clients around the world.

“This built-to-suit building accommodates the advanced and robust systems and security necessary for us to consolidate our operations and technology functions under one roof. It will deliver greater synergies and efficiency for us to meet both the clients’ and our own operational needs.”

Jonathan Larsen, Country Head and Citi Country Officer for Singapore, added, “This new operations and technology building represents a strategic investment in Singapore for Citi. It reinforces Singapore’s role as Citi’s strategic hub for regional management, marketing, operations and technology globally. We have been steadily increasing our presence in Singapore and are delighted that our latest and 22nd Citibank branch is right here in this building. Citi will continue to invest and be committed to our clients, our employees and the community in Singapore.”

Citi’s new operations and technology building has incorporated environmental and energy-saving features, which won it the Platinum Green Mark Certification, Singapore’s highest environmental honors, from the Building and Construction Authority in May 2009.

This is part of Citi’s global pledge to embed eco-friendly practices in our everyday business and reduce greenhouse emissions by 10% by 2011. It has also met Citi’s objective of achieving environmental certification for the construction of all new office buildings.

Some of the green features include low-emission glazing on the building façade, intelligent building energy management systems and green roof systems for solar and thermal insulation. These help reduce the building’s energy consumption by up to 33% and also ensure an uninterruptible power supply, critical to round-the-clock operations.

Today’s opening marks the successful completion of the first phase of the consolidation of Citi’s operations and technology functions in Singapore. The second phase is in progress. To mark the official opening of the environmentally friendly building, Citi’s O&T employees each made a pledge to be personally committed towards a green activity to help reduce their carbon footprint.