Awards for Excellence 2017
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Citi wins the award for best bank for markets in Latin America. The US bank maintains a very wide presence in the region and is a strong competitor across the board. Led by regional head of markets and securities services, Jaime Roblesgil, the bank has been focusing on building up its controls in recent years, in alignment with its global practices. Coordination is vital. Citi has 530 personnel operating in 21 countries in the region (as well as in Miami and New York).
The bank faces a broad array of risks as it is among the top three players in nearly all products in the region and it expects to gain additional share as its global competitors continue to exit markets or retrench. The bank is a leader in FX, rates, commodities and equities.
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Jaime Roblesgil, |
For example, Citi’s clients have access to 24-hour trading in 130 currency pairs in the world through trading hubs located in New York, London and Singapore. Citi is also active in local rates derivatives in nearly all Latin American currencies, providing liquidity in markets it has pioneered, such as the Honduran lempira, the Costa Rica interbank rate, the Uruguayan peso, the Colombian interbank rate and the Mexican inflation index.
According to central bank data, Citi is the leading bank by foreign exchange market share, with clients in Brazil, Colombia and Argentina. In the key market of Brazil, Citi has been the leader since 2007. Similarly, in Colombia and Argentina, Citi is one of the leading counterparties, with roughly 30% and 12% market share respectively. In Mexico and Chile, Citi’s large retail networks provide the bank with unbeatable flow across the product spectrum.
