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PERSPECTIVES

Hello, São Paulo

September 06, 2016

The City Profiles series is dedicated to highlighting Citi's history in some of our key markets around the world. We spoke to Hélio Magalhães, Brazil's Citi Country Officer, to get his perspective on Citi's ongoing involvement in São Paulo.

What is your favorite milestone from Citi's history in São Paulo, and how do we continue to enable progress in the city today?

I'd have to say it was our celebration in 2015 of Citi's 100 years in Brazil. That was a truly special milestone that demonstrates our longstanding commitment to a country that has meant so much to us over so many years. To commemorate our centennial, Citi gave a lasting gift to São Paulo – a sculpture by renowned artist Tomie Ohtake. The sculpture was placed on Paulista Avenue, where Citi Brazil has its headquarters and where we hold events for clients and colleagues. That same year, we were also recognized as a 'Great Place to Work' and 'Best Bank to Work [for] in Brazil,' and as the 'Best Company for Disabled Workers' in the country. All of these honors reflect our commitment to enable progress and growth for our clients, our colleagues, and our communities, and other stakeholders as well.

I'm also proud that Citi has been such a strong supporter of São Paulo's growth and development over the course of many decades. For a recent example, last year we extended more than R$210 million in loans and investments for affordable housing. The Citi Foundation also supported a number of charitable organizations with over R$958,000 of funds, and more than 900 Citi colleagues contributed more than 3,800 volunteer hours.

What are some of the key opportunities facing clients and customers in your market?

Citi has contributed to Brazil's robust growth by channeling investment into the country's infrastructure and private industries, and also serving as the financial advisor to major companies.

I think we present an opportunity for our clients to connect them with the rest of the world.

We're the #1 in Custody for foreign investors and the Brazilian market leader in exchange operations for clients for the past eight years; we're also the largest bank in the country in International Cash transactions. Our business platform is present in 101 countries, of which 23 are in Latin America; we conduct transactions in 140 currencies and operate in 160 countries. And in Brazil, we serve 78 clients in the Global Fortune 500 with headquarters and offices in São Paulo.

Looking forward, what are you most excited about for Citi's future in São Paulo?

We will maintain a solid presence in Brazil, with service focused on corporate and institutional customers. We have the scale and global presence necessary for those clients to differentiate ourselves in Brazilian market.

I'm also proud of Citi's continued support for and investment in the sustainability of Brazil, and the work we're doing to serve our community now and for future generations. One example is our support of numerous small vegetable and fruit producers in the extended São Paulo metropolitan area through the Citi Foundation, which sponsors a project to empower local producers to expand their distribution channels, increase their profitability and improve their quality of life.

With our partners at the Center for Sustainability Studies at the Getúlio Vargas Foundation, we're also working toward providing a stronger support network for local producers, including access to financial services to help them grow their businesses and to promote public policies that support local food production based on socially and environmentally-friendly practices.

We've been in Brazil for more than 100 years, supporting our clients and the broader community. We're looking forward to being here for the next 100.

Please visit the full São Paulo​ City Profile for more information.

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