Wednesday, 21 June 2023 04:58

Citi recognized as Best Sub-Custodian Bank in Latin America 2023

Written by Evelyn Alas

For the 20th consecutive year, Citi has been recognized with the Best Sub-Custodian Bank in Latin America Award by Global Finance Magazine. In addition, Citi was also named Best Sub-Custodian Bank in Argentina, Colombia, Mexico, Panama, Peru and Chile (Banco de Chile*).

"We are honored to be recognized as a leader in Latin America in custody services for the 20th consecutive year", said Ricardo Hesse, Citi's Head of Latin America Securities Services. "These awards are testament to Citi's leadership in the region, where over the past year we have been involved in market developments and major projects, including digital platform implementations and cybersecurity upgrades. We remain committed to our role as a trusted advisor and partner, focused on the development of local capital markets across Latin America".

Over the past five years, Citi has worked continuously with central securities depositories, stock exchanges and through other industry channels to promote a market standard for proxy voting so that all issuers can offer remote participation in addition to physical attendance.

Citi's custody business offers clients an industry-leading proprietary network spanning more than 60 markets worldwide. Citi is the leading custody provider in Latin America with more than 70% market share in the region and has a dominant local presence in Argentina, Brazil, Colombia, Mexico, Peru and Panama.

The Global Finance 2023 World's Best Sub-Custodian Banks awards recognized the institutions that reliably provide the best services and the most knowledge of local regulations and practices in local markets and regions, based on market research, information from expert sources and bank nominations, to select the winning institutions.


Translated by: A.M