Citi Announces Brexit Preparedness
March 19 2019 - 8:46AM
Business Wire
EEA Investment Firm Commences Trading and
Client Execution
In keeping with its commitment to provide seamless service to
clients, regardless of the Brexit outcome, Citi is now offering
its product and service suite from entities fully within the
European Economic Area (EEA).
“Since well before the Brexit vote in 2016, all our businesses
have been focussed on making sure we can continue to serve our
clients in the UK and EEA, irrespective of the political outcome,”
said David Livingstone, Citi’s CEO for Europe, Middle East and
Africa.
For EEA clients and counterparties unable to conduct business
through Citi’s UK entities post Brexit, Citi’s products and
services are now additionally available through Citibank Europe plc
and Citigroup Global Markets Europe AG.
Citigroup Global Markets Europe AG, Citi’s new investment firm
in Frankfurt, has begun actively trading on the most
significant exchanges in the EEA, has commenced primary
capital market issuance activities, and is on-boarding and
executing for clients across the bank’s entire Markets &
Securities Services product spectrum. It has also begun clearing
trades via Eurex Clearing.
Citibank Europe plc, Citi’s Ireland-based bank, is the result of
the 2016 consolidation of Citi’s bank branches in 22 countries
in the EEA. It has been operating in its present form for three
years, encompassing a wide variety of businesses, including loan
underwriting, syndication and trading, foreign exchange, credit and
interest rate derivatives, transaction banking and cash management,
and a full range of agency and trustee services.
The new EEA capabilities complement Citi’s long-established,
comprehensive offering throughout Europe. Citi has on-the-ground
presences in 20 of the 27 post-Brexit European Union (EU)
countries, and has been in some European countries for more than a
century. Prior to the Brexit vote, in excess of 60% of Citi’s EU
workforce was already located outside of the UK.
London remains the centre of Citi’s UK business, as well as its
headquarters for the Europe, Middle East and Africa region, and an
important global hub.
About Citi:
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190319005496/en/
Media Contact:Edwina Frawley-Gangahar+44 (0)207 508
2340edwina.frawleygangahar@citi.com
Citigroup (NYSE:C)
Historical Stock Chart
From Aug 2024 to Sep 2024
Citigroup (NYSE:C)
Historical Stock Chart
From Sep 2023 to Sep 2024