Citi has opened a global operations and technology hub in Singapore that houses 2000 staff supporting various bank businesses across 40 countries.
The opening of the 200,000-square foot purpose-built building at Changi Business Park marks the completion of the the first stage of Citi's $220 million plan to centralise global operations and technology units in Singapore. The second phase is "in progress".
The building hosts a number of Citi's major processing hubs, including the regional service centre for securities and funds administration and regional cash processing management unit.
In addition, it also houses global processing centres for wealth management, transaction services operations, technology infrastructure support and data centre services for multiple Citi businesses in Asia Pacific and globally.
A branch has also been opened at the site, the bank's 22nd in Singapore.
Citi says it has strived to make the building green, with low-emission glazing on its façade, intelligent energy management and green roof systems for solar and thermal insulation.
These measures will help reduce the building's energy consumption by up to 33% and also ensure an uninterruptible power supply, critical to round-the-clock operations.
Andrew Butcher, regional head, operations and technology, Citi Asia Pacific, says: "This built-to-suit building accommodates the advanced and robust systems and security necessary for us to consolidate our operations and technology functions under one roof. It will deliver greater synergies and efficiency for us to meet both the clients' and our own operational needs."