Citi Bank launches digitized documentation for cross-border payments in South Africa

SOUTH AFRICA – Global investment bank Citi has announced the launch of a new service for its institutional clients that speeds up the processing of their cross-border payments through the digitization of supporting documents. The service, which is being rolled out initially in South Africa, significantly streamlines and eases the processing of overseas payments by bringing together on a single electronic platform the once-separate submission of cross-border payment instructions and documents associated with them. “At Citi, we’re investing heavily in digital technologies and platforms to simplify, integrate and automate our…

Read More

Morocco’s unique geographical position to play huge role in economic recovery post COVID-19 – Citi Bank

Morocco’s unique geographical position to play huge role in economic recovery

MOROCCO – Top executives from Citi Bank, an American based multinational financial institution, have opined that Morocco’s unique geographical position will play a huge role in the country’s journey to economic recovery post COVID-19. During a webinar hosted by Citi, focused on rebuilding economies as they emerge from the COVID-19 crisis, executives from the American Bank emphasized the importance of Morocco’s geographic position. According to the Citi executives, the Maghreb country is well-positioned between Europe and Africa, which opens opportunities for future investments necessary to stimulate economic growth. They highlighted…

Read More

Citigroup appoints Peter Babej as Asia Pacific chief executive

HONG KONG – American multinational investment bank and financial services corporation, Citigroup Inc has named Peter Babej, as its new Asia Pacific chief executive officer, Reuters reported in October this year. Peter Babej was serving as the U.S. banks global head of financial institutions group before being promoted to Asia Pacific’s chief executive’s office. According to a memo released by Citi, Babej joined financial institution in 2010 as co-head of the financial institutions group. The memo sent by Citi’s global CEO Mike Corbat further revealed that he had previously worked…

Read More

Citi group to expand business portfolio in China with the set up of wholly owned securities business

Morocco’s unique geographical position to play huge role in economic recovery

HONG KONG – American multinational investment bank and financial services corporation, Citigroup Inc plans to set up a wholly owned securities business in China, reports Reuters.  People with knowledge of the matter said in October, that the Bank was taking advantage of Beijing’s move to fully open up some of its financial sectors to foreigners next year. Citi is currently in the process of completing its exit from a minority-owned securities joint venture in China, a process that one of the sources said is expected to be completed by end…

Read More