Citigroup wins cash mandates in China
Citigroup announced cash management mandate wins in China at the 4 th annual EuroFinance Conference on Cash, Treasury and Risk Management in China, which was held on November 8-9 in Shanghai.
This year’s conference, sponsored by Citigroup Corporate and Investment Banking, was the last industry wide event before Chin a’s WTO full liberalization process commences on December 11, 2006.
The conference provided a forum for cash management experts and China-based treasurers to discuss trends, innovations and case studies on how best to deal with the challenges faced by treasurers in China. Recognizing their recent mandate wins, Citigroup banking seniors held signing ceremonies for several clients. Among them was Danaher, a leading manufacturer of professional instrumentation, industrial technologies, and tools and components. “Danaher in China is delighted to partner with Citigroup for our cash and liquidity management needs,” said Samuel Liao, CFO for Danaher Asia. “We are confident that this partnership will elevate our relationship to a new level.” Citigroup is China’s leading cash management bank for large corporations and offers the widest range of liquidity and web -enabled solutions in the market. Nigel Dobson, Citigroup Asia Pacific Head of Cash Management, who delivered the keynote address at the opening of the EuroFinance conference, predicted, “With the global treasury model about to take off, China’s cash management solutions will become increasingly sophisticated as new techniques develop through bank cooperation and the harnessing of global solutions.” Brett Krause, Head of Citigroup’s Global Transaction Services in China, said, “The excellent participation in cash management seminars at EuroFinance 2006 demonstrates that companies are seeking for new and a broader range of cash management solutions. Citigroup is fully committed to meeting their needs by delivering the best cash management solutions available in China through continuous innovation, training and our unique award-winning quality of service.” –www.theasianbanker.com (November 30 2006)–