The world’s best bank for payments and treasury 2023: Citi
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The world’s best bank for payments and treasury 2023: Citi

Citi’s crown jewels sparkle in a record-breaking year for the business.

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Citi chief executive Jane Fraser’s oft-cited observation that its treasury and trade solutions (TTS) businesses are the bank’s crown jewels gives some indication of just how important these businesses are to the top of the firm.

The numbers are impressive. Citi transacts in 145 currencies, is a member of 280 clearing systems globally and in the third quarter of 2022 had almost 10% of the large institutional segment globally, according to Coalition Greenwich.

It processes $4 trillion in payments across 160 countries daily, making revenues of $3.4 billion in the first quarter of 2023.

“We had a record year in 2022,” says Michael Fossaceca, managing director, North America region head at Citi TTS. "We grew by 32% and had our best year ever with record revenues and profitability."


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