Citi announced today that the Dexia Group has reappointed Citi's Global Transaction Services as their USD treasury clearer for the main subsidiaries and branches of the Group. Citi has also been reappointed as the CLS USD nostro agent for Dexia BIL.
Citi has provided the Dexia Group with USD Treasury Clearing Services for the past five years. Following a thorough review and RFP process, Dexia has reappointed Citi as its sole USD Treasury Clearer, as testament to the Firm's best in class solution and unwavering support of Dexia. "Citi has been, and will continue to be, a committed USD Clearing provider to the Dexia Group. The partnership with Citi and Dexia deepens as we continue to support their growing international business with our robust clearing solution and operational support" says Bharat Sarpeshkar, Global Head of Bank Services Group, Citi's Global Transaction Services.
Karl Thirion, General Manager Group Bank Relations, Treasury & Financial Markets at Dexia Group, agrees. "Seamless USD Clearing is critical to our business. Over the past five years, Citi has become a trusted partner and has proven to have a world class solution. We are glad to reappoint Citi as our USD Treasury Clearer."
Citi continues to be one of the largest USD Clearing providers globally. Over the years, Citi has earned worldwide acclaim for understanding the needs of financial institutions and adding immeasurable value to treasury and commercial transactions that consistently exceed customers' expectations. Combining cross border payments with flexible delivery, backed by the strength of Citi's vast correspondent network, Citi continues to provide a best in class USD clearing solution to help their clients do business.