• Spotlight on Citi's microfinance leadership.

    By Citi November 05, 2010 11:58 AM

    Bob Annibale, Global Director of Citi Microfinance and Community Development, recently shared his observations on trends in microfinance as the keynote speaker at Columbia Business School's "Social Enterprise Conference 2010." In his address, he outlined the Citi Foundation's longstanding philanthropic support for the microfinance sector and also discussed the strategy underlying Citi Microfinance, which launched in 2005 as a business to serve microfinance institutions (MFIs) as clients and partners.

    Annibale told the audience that, working across Citi's businesses, product groups and geographies, Citi Microfinance serves more than 100 MFIs, networks and investors as clients in over 40 countries, offering products and services that in turn allow them to expand access to financial services to the underserved on an individual level. These include local currency financing, hedging and transaction services as well as development and distribution of savings, remittances and insurance products. Referring to the economist who developed the concepts of microcredit and microfinance, Annibale said, "[I]f Muhammad Yunus is the 'Banker to the Poor,' then we're the 'banker to the banker of the poor.'"

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  • Citi judged Best Global Private Bank.

    By Citi November 04, 2010 05:41 PM

    Citi Private Bank has been named Best Global Private Bank in an awards program organized by two Financial Times publications, The Banker and Professional Wealth Management (PWM). Judges looked at 350 institutions around the world in the four-month period before the Global Private Banking Awards. Winners had to demonstrate their ability to adapt their business model to the new regulatory and post financial crisis environment. They were also evaluated on their business and growth strategies, portfolio management, innovation, client communication, technology and fee structure, among other factors.

    The winners were announced at an awards ceremony last week in Geneva.

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  • Bloomberg Markets writes about the new Citi.

    By Citi November 04, 2010 12:28 PM

    The November issue of Bloomberg Markets includes a piece on Citi's transformation in the wake of the financial crisis, focusing on our restructuring and the progress made towards sustained profitability.

    Read the entire article here.

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  • Fueling small business lending by supporting CDFIs.

    By Citi November 03, 2010 05:29 PM

    Money is flowing to small businesses in low-wealth and low-income U.S. communities through the $200 million Communities at Work Fund, launched in May by Citi, Calvert Foundation and Opportunity Finance Network (OFN). The Fund, which channels resources to small and start-up businesses via local lenders at Community Development Finance Institutions (CDFIs), is on track to disburse $60 million by year end, creating vital jobs and supporting economic recovery in 39 states and Washington, D.C.

    Among the recipients in the first round of disbursements is Self-Help Ventures Fund, a non-profit that provides financing, consumer financial services, technical support, and advocacy for those left out of the economic mainstream. Its president Bob Schall said the Communities at Work Fund loan will help unlock an additional $11 million in funding, enabling Self-Help to deploy $31 million in total towards charter schools in low-income neighborhoods, renovations of vacant inner city property, and new mixed-use development in areas where it operates.

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  • The internationalization of the Chinese currency.

    By Citi November 01, 2010 09:45 AM

    Emma Loftus, Global Head of FI Payments, Global Transaction Services, Citi, describes why the Chinese government has taken steps to internationalize the Renminbi and what the implications are for firms doing business in China in a new video on the Citi@Sibos 2010 microsite.

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  • Pandit speaks to The Economist.

    By Citi October 29, 2010 05:43 PM

    Following his remarks at The Economist-sponsored Buttonwood Gathering this week, Citigroup CEO Vikram Pandit further-elaborated his views on the potential effects of some Basel regulations on financial inclusion and global growth.

    See his interview here.

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  • Bundle is "Best in Show."

    By Citi October 29, 2010 10:12 AM

    Bundle, a social media, personal finance start-up nurtured at Citi, earned "Best in Show" honors at Finovate Fall 2010, a conference showcasing financial and banking technology innovation. Of 56 companies presenting new products, Bundle placed in the top seven based on audience votes.

    Bundle.com is designed around tools and resources that help consumers manage their finances. A groundbreaking feature is Bundle's money comparison tool that enables users to track their spending and savings choices against those of peers. The site also includes "addictive infographics," as one reviewer described them, produced by Bundle's own editorial staff and contributors from MSN Money and Morningstar, who mine aggregated transactional and demographic data for interesting trends. Social media sharing functionality allows users to pass along insights via e-mail, Facebook and Twitter.

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  • On leadership: Citi Cards' Peggy Humes.

    By Citi October 28, 2010 12:26 PM

    Ingram's, a monthly business magazine, featured Peggy Humes, Kansas City site president for Citigroup's Citi Cards, among an elite group of accomplished business women in its 2010 "Women Executives of Kansas City" issue. In an interview, Humes discussed her leadership style, in which she aims to be open and direct in all her communications. "Be honest, be real and invest in people emotionally," she told the magazine. "People don't care how much you know until they know how much you care."

    The article is available in the October issue at ingramsonline.com.

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  • Speed, simplicity, ubiquity.

    By Citi October 28, 2010 10:08 AM

    Jonathan Larsen, Citibank's head of consumer banking for Asia Pacific, spoke with the Wall Street Journal's "Managing in Asia" columnist about investments in technology supporting the company's expansion of retail banking the region. In the piece, "Pushing high-tech in growing Asia market," he discussed successful efforts to bring a full range of banking services to mobile devices such as smartphones and tablets; the launch of "transit branches" on commuter routes in Sinagpore, Hong Kong, Shanghai and soon Tokyo; and the rollout of state-of-the-art interactive technology across the rapidly growing Asian retail branch network.

    "Speed, simplicity and ubiquity are guiding our use of technology," Larsen said.

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  • Celebrating service.

    By Rosemary Byrnes, Director, Citi Volunteers October 27, 2010 03:12 PM

    Citi's relationship with the New York Mets incorporates a deep commitment to service. Throughout the 2010 baseball season, Citi and the Mets partnered in an initiative called "Teammates in the Community," that aims to recognize those groups and individuals who exemplify outstanding community service and volunteerism in their neighborhoods.

    As the Director of Citi Volunteers, I had the pleasure of attending many of our "Teammates in the Community" events during the 2010 season. This season was filled with rich and rewarding volunteer activities ranging from packing apples for food pantries with City Harvest to sending cards of encouragement for injured soldiers through the Wounded Warriors program. Additionally, this initiative provides opportunities to recognize and celebrate the heroism of individual New Yorkers who have made volunteerism an integral part of their lives, bringing a sense of pride and satisfaction to those who have dedicated their personal time to their communities.

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