Two factors have combined to give Citigroup the deserved title of Cash Management House of the Year 2006, according to Paul Galant, managing director and global head of the cash management business for global transaction services.
These are many years of making the right choices, combined with a firm grip on the “global picture”.
He notes that the most obvious advantages for the bank are its scale and tied to that the strength of its brand. The reach of the organisation has given the cash management business a footprint in more than 90 countries and supporting over 40,000 clients.
He says: “If I spend $1 on innovation, I get to leverage it in almost 100 markets. Also, because we do have a view of the big picture our solutions, whether we are talking about TreasuryVision, our identity management solutions, or our liquidity solutions, they are much more holistic than a traditional cash management provider could offer.”
In addition to breadth of understanding, the bank also has depth within its customer base says Mr Galant. “Our brand gives us the ability to reach our customers at a senior level so that the solutions we produce are really more ‘tailored to fit’ rather than off-the-shelf. I like to have that relationship, it makes us more a part of the fabric of our customer’s business rather than simply a vendor.”
