Citi signs global custody deal with Cambodia's central bank

Press Release Asian Banks

This is the press release by Citi Published March 13, 2009

Citi Securities and Fund Services, a division of Global Transaction Services, has been appointed by the National Bank of Cambodia to provide a range of global custody services. The landmark deal marks the first public sector client mandate win in the Kingdom of Cambodia for Citi and builds on the bank’s existing relationships with the region’s leading central banks. In winning this significant mandate, Citi will provide global custody services to the National Bank of Cambodia, supported by the product and sales specialists in Singapore, Thailand and the regional Asia Pacific office in Hong Kong. The mandate covers the safekeeping of assets and additional global custody services including outsourcing, performance measurement, compliance monitoring, investment administration and accounting. The National Bank of Cambodia’s appointment of Citi as global custodian widens Global Transaction Services public sector footprint in Asia Pacific. Additionally, by winning this strongly contested mandate, Citi continues to display its ability to provide superior securities and fund services, its capabilities in customizing solutions and demonstrating experience in penetrating Asia Pacific’s emerging markets. The milestone mandate also strengthens the relationship between Citi and the Kingdom of Cambodia on other public sector initiatives. H.E Chea Chanto, National Bank of Cambodia Governor said: “We are extremely confident that the global custody services provided by Citi will be of major benefit to the National Bank of Cambodia as we look to expand and diversify our investments offshore. Citi’s quality of services and experience regionally and globally will be key to our future plans.” Anthony Nappi, Managing Director, Regional Head of Global Transaction Services, Asia Pacific said: “This is a landmark deal not only for Citi but also for the Kingdom of Cambodia. We are truly honored to partner with the National Bank of Cambodia and look forward to working together on additional projects in the near future.” Re-disseminated by The Asian Banker