Best at cash management and payments
Last November, Euromoney published the results of a survey of 1,061 corporate treasurers asking them to identify the best banks for providing international and domestic cash management and payments services. Bank of America was the top-ranked bank in North America and fourth in the overall ranking of international cash managers; ABN Amro won in western Europe and ranked third overall globally; HSBC was top in Asia and second overall. But the top-ranked global cash management bank ? by a healthy margin and for the third year in a row ? was Citigroup.
Other banks might lead in their home region but none matches Citigroup?s global reach. ?The biggest differentiation between us and everybody else is that we are physically on the ground in so many more countries with business that we own manned by people who work only for us,? says Paul Galant, global head of cash management. ?And that is something I wouldn?t trade for anything.?
Galant sees his challenge as trying to build on something already working well. He is striving to redefine the role of cash management provider into that of a trusted strategic adviser to Citigroup?s corporate customers.