Citibank 2010 Annual Report Download - page 10

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In the Asia Pacific region, Citi employs more than 50,000
people in 19 markets: Australia, Bangladesh, Brunei, China,
Guam, Hong Kong, India, Indonesia, Japan, Korea, Macau,
Malaysia, New Zealand, the Philippines, Singapore, Sri Lanka,
Taiwan, Thailand and Vietnam. Citi’s legacy in Asia Pacific
dates back more than 100 years. We opened our first Asian
office in 1902 in Shanghai, earlier than any other Western
bank, and we have been established in Hong Kong, Manila,
Calcutta, Singapore and Yokohama for more than a century.
Today, we provide more services in more markets for more
clients than any other financial institution in the region.
Citibank is Asia’s leading consumer bank, with more than
31 million retail and card customer accounts, and our franchise
has pioneered best-in-class Internet and mobile banking
solutions across the region. Among global banks, Citibank has
the widest distribution network in Asia and is also the top
credit card issuer, with more than 15 million accounts. In 2010,
Citi launched more than 20 major credit card products in the
region. Citibank also was the first U.S. bank to launch retail
banking in Vietnam, and we introduced our first-ever credit
card in that market in 2010.
Citi Private Bank is one of the region’s leading wealth
managers, offering carefully tailored services to more than
6,000 individuals and families, including one-third of Asia’s
billionaires (excluding Japan). The Private Bank employs more
than 300 bankers and investment specialists across the region.
Overall, Citi is the largest wealth manager in Asia Pacific, with
$165 billion in assets under management. Through Citigold
Private Client and Citigold, Citibank serves many of the
region’s most affluent consumers.
Overall, 85% of Fortune 500 companies’ operations in Asia
Pacific bank with Citi. We also bank nearly 3,500 subsidiaries
of 450 U.S. parent companies — firms that are increasing their
investments in Asia and using our platform to expand. This
also underlines the importance of Citi’s global network,
especially for our Global Transaction Services (GTS) business,
including a comprehensive footprint in the emerging markets
that helps multinationals and financial institutions expand
internationally.
In 2010, Citi was named the Best Bank in Asia by FinanceAsia
and The Asset. Citi Japan also was ranked #1 in Nikkei’s
prestigious Retail Banking Survey, which compared the quality
of over-the-counter service and financial products among
118 banks in that country. The more than 400 awards we
received during the year — including the award for Best Cash
Management Bank from FinanceAsia, which Citi has won 13 out
of the last 14 years — demonstrate Citi’s ongoing commitment
to consistently delivering excellence for our clients.
Asia Pacific