Citibank 2005 Annual Report Download - page 15

13 | Citigroup 2005
Corporations...Institutional Investors...Governments...Corporations
The most distinguishing attributes of Corporate and Investment Banking are
the depth and duration of our client relationships and our ability to use our
embedded local presence in 100 countries to deliver innovative solutions for
our clients globally.
In 2005, we provided clients with stra-
tegic advice, new ideas, and the kinds
of solutions and unique capabilities
that once again demonstrated that we
can accomplish diffi cult transactions
anywhere in the world.
For the year, we earned $6.9 billion
in net income on revenues of nearly
$24 billion.
FRANCHISE STRENGTH
In 2005, we achieved strong momentum
in Capital Markets and Banking. For
the fi rst time, we earned the # 1 ranking
as the leading Global Underwriter of
Equity and Equity-Linked Securities,
underscoring our commitment to lever-
aging our advisory expertise and global
equity distribution capabilities. And we
ended the year as the # 2 advisor on
completed M&A transactions globally.
Our Global Transaction Services team
fi nished the year as one of Citigroup’s
fastest-growing businesses.We were
named Best Bank for Cash Management
by Euromoney for the seventh consecu-
tive year and launched several products,
including TreasuryVisionSM and Asset
Manager Solutions for Separately
Managed Accounts—which T he Banker
recognized as its “Back Offi ce Solution
of the Year.”
Having executed deals for more clients
in more countries and in more curren-
cies than any of our competitors, our
Fixed Income business maintained its
position as the leading underwriter of
bonds globally. Our Equities team had
an outstanding year, with improved
market shares and client rankings in
virtually all business segments.
Indeed, our Emerging Markets Sales
and Trading business, with trading
fl oors on the ground in some 70
emerging markets countries, had
another strong year, with 23 percent
volume growth in Client Foreign
Exchange and Derivatives.
We were the # 1 Global Underwriter of
Debt and Equity for the 17th consecu-
tive quarter, and our clients continued
to rely on our willingness and ability to
commit capital and provide liquidity. In
addition, we signifi cantly expanded our
U.S. electronic trading capabilities and,
by leveraging the technology from our
Knight Trading and Lava acquisitions, we
nearly tripled the number of clients who
trade through our electronic platform.
We are also proud of our inclusion at
or near the top of practically every
ranking of fi nancial services fi rms. In
fact, because of the advice and service
we provided, we ranked # 1 in 14 of 25
League Table categories—more than
any other fi rm. Regardless of product,
and whether measured against local or
global competitors, we are consistently
named an industry leader. It’s a power-
ful indication of our expertise, the
value we deliver, and the quality of
our people—and it’s a claim no other
fi nancial services fi rm can make.
TRANSFERRING EXPERTISE
Key to meeting client demands is our
providing integrated solutions by lever-
aging teams from across the fi rm and
around the world. We demonstrated
this strength in our role as advisor,
fi nancier, and investor on Deutsche
Annington Immobilien GmbH’s $12.8
billion acquisition of Viterra AG. This
was the largest-ever real estate transac-
tion and private equity investment in
Germany, a deal that brought together
teams from Fixed Income, Investment
Banking, and Citigroup Alternative
Investments.
“Citigroup’s ability to work with us at
all levels of the capital structure, and
with a transaction of this scale, enabled
us to complete this transformational
deal against fi erce competition,” said
Guy Hands, CEO of Terra Firma
Capital Partners.
When PepsiCo required a banking sys-
tem with global visibility to optimize its
investments, the company teamed with
Citigroup to develop TreasuryVisionSM,
a powerful Web-based tool that pro-
vides views of real-time balances, cash
positions, investments, and borrowings
worldwide.
Corporate and Investment Banking