Citi Launches Broad New Commercial Banking Offering in Switzerland

Zurich – Citi announced today the expansion of its Commercial Bank operations in Switzerland. The new offering is part of the firm's multi-year plan to scale up and fast-track growth in key markets and sectors for companies which need the same institutional products as Corporate Bank clients but are still growing and evolving their financial setups.

The Commercial Bank currently serves FinTechs and digital native clients in the Swiss market by exclusively leveraging digital capabilities. The new physical operation enables Citi to offer its target client set of multinational mid-sized corporates a single local banking relationship while drawing on the firm's vast global network and sophisticated institutional capabilities.

Marni McManus, Head of Citi in Switzerland, commented: "Switzerland has a deep and global client base that makes it core to Citi's global strategy. We operate in a shifting digital, geopolitical, and economic landscape and we believe that this is the right time to expand our offering in the Swiss market. Through our Commercial Bank we will now be able to deliver Citi's wide array of institutional products and solutions to meet the evolving needs of corporations which are growing rapidly and expanding internationally as well as the ones with an existing international presence and looking to gain efficiency."

The needs of these companies are complex, particularly as technology eliminates barriers of entry across geographies. Having a banking partner with both global expertise and local operations is crucial for these companies. The Commercial Bank acts as the face of Citi to deliver a broad spectrum of solutions across liquidity management, trade flows, payments, lending, wealth, and markets to clients, creating bespoke product offerings by region and sector.

"We specialize in advising clients that have international ambitions and high transaction volumes. These companies have sophisticated, and often complex, needs and we are able to support their growth by developing scalable solutions and providing diversified sources of capital." said Auke Leenstra, Western Europe Head, Citi Commercial Bank.

"Launching a physical presence in Switzerland fits squarely in line with our ambition to rapidly grow this business over the next three to five years. There is tremendous opportunity as more local Swiss mid-sized corporates expand beyond their home borders, and we are also able to serve foreign companies establishing subsidiaries in Switzerland." added Tasnim Ghiawadwala, Global Head, Citi Commercial Bank.

The Commercial Bank puts Citi's 200 years of experience to work for mid-sized, globally oriented companies by delivering actionable insights and ideas, comprehensive banking solutions and a truly global network. Serving clients in more than 60 countries, the Commercial Bank helps companies with revenues starting from $10 million address the challenges of rapid growth and international expansion, enabling them to scale faster, grow larger and spur economic activity in their home markets.

Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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Citi Media Contact
Nedjma Benbouzid
T: +41 58 750 75 65
nedjma.benbouzid@citi.com