Wednesday, 06 July 2022 02:44

Citi recognized as Best Sub-Custodian Bank in Latin America

Written by Evelyn Alas

For the 19th consecutive year, Citi has been recognized with the Best Sub-Custodian Bank 2022 Award in Latin America by Global Finance Magazine. In addition, Citi was also recognized as the Best Sub-Custodian Bank in Argentina, Brazil, Colombia, Mexico, Panama, Peru and Chile (Banco de Chile*).

"The industry has rebounded from the uncertainties of the past two years with more resilience than ever before. At Citi, we have remained committed to our client base and workforce, as well as the markets in which we do business, as a trusted advisor and partner, focused on developing local capital markets across the region", said Ricardo Hesse, Head of Latin America Securities Services at Citi. "We are proud to be recognized once again, both with the overall sub-custodian award for the Latin America region and in seven individual markets in the region".

The awards recognize institutions that reliably provide the best services in local markets and regions based on market research, expert opinions and information from bank nominations to select the winning institutions.

Market uncertainty last year influenced Citi to continue investing in its innovation strategy with the goal of digitizing technology infrastructure to ensure transparency, as well as zero impact on clients, across the bank's network of operations and services. In addition, Citi worked with local regulators and market infrastructure entities to develop conditions to increase capital market liquidity.

Through its industry-leading proprietary network spanning more than 60 markets, Citi's custody business provides clients with deep local market expertise, advanced processing technologies for servicing assets and transactions, and a wide range of fund services that can be tailored to meet clients' needs.

In the Americas, in addition to its domestic custody in the United States, Citi is the leading provider of custody services with a dominant local presence in Argentina, Brazil, Colombia, Mexico, Peru and Panama.