In a year marked by rising geopolitical tensions, macroeconomic complexity and the growing demands of digital transformation, Citi is North America’s best bank for large corporates.
Citi’s strength lies in its unmatched international reach and the depth of its banking relationships. The bank maintains a physical presence in 95 countries and serves clients in 180 markets, more than any other financial institution.
For multinational corporates with cross-border operations, this footprint is more than symbolic. “When I ask clients if our network matters, they tell me it’s fundamental,” says Jason Rekate, Citi’s global co-head of corporate banking. “In a world shaped by tariffs and shifting trade corridors, there just aren’t many banks left who’ve made this level of commitment to global service.”
This international infrastructure supports a dual coverage model that mirrors the structure of Citi’s clients, offering both head office and subsidiary-level support. Citi’s corporate bankers manage relationships with thousands of large corporates globally, including over 90% of the Fortune 500. In North America, 2024 brought strong growth across inbound and domestic flows.
A front-row seat at the deal table
Citi’s investment banking business surged in 2024, with fees up 42% year-on-year to $3.8 billion, driven by share gains across M&A, equity capital markets (ECM) and debt capital markets (DCM). The bank was at the centre of several of the year’s marquee deals, including advising Mars on its $35.9 billion acquisition of Kellanova, the largest M&A transaction globally in 2024 and the biggest in the consumer sector since 2016. Citi acted as exclusive financial adviser and sole underwriter of the bridge facility to support the deal.
Structural clarity enables Citi to mobilise specialists across capital markets, FX, commodities and services in ways that match how clients operate
“Clients increasingly come to us with complex, cross-border challenges,” says Rekate. “Whether it’s structured hedging, liquidity solutions or episodic financing, our platform can deliver bespoke responses through our partnership between corporate banking, investment banking including capital markets and services.”
Expanding the toolkit with private credit
One of the most notable strategic developments in 2024 was Citi’s partnership with Apollo to launch a $25 billion private credit platform. This alliance offers Citi’s clients direct access to private lending capital at scale, bringing a new solution into Citi’s financing mix.
“This gives us the ability to provide funding certainty in transactions that wouldn’t have been feasible for us before,” Rekate explains. “It’s already made a difference, being instrumental in a major transaction in 2025.”
For example, Citi acted as Boeing’s exclusive financial adviser in its sale of the Digital Aviation Solutions business, including Jeppesen, to Thoma Bravo for $10.55 billion. Thoma Bravo financed the acquisition with $6 billion in equity and a $4 billion private loan led by Apollo Global Management.
The engine of day-to-day corporate finance
Citi’s corporate banking success is equally rooted in its market-leading Citi Services business, which delivered 9% year-on-year revenue growth in 2024. Treasury and Trade Solutions is the cornerstone of Citi’s day-to-day corporate relationships, processing over $5 trillion in daily payments across more than 180 countries.
In 2024, Citi expanded its Citi Payments Express platform to 18 markets, facilitating API-enabled 24/7 digital commerce. The launch of digital signer management, allowing clients to add, remove and audit authorised signatories digitally, was another highly praised innovation, significantly improving onboarding and operational control across global cash accounts.
“These innovations may not make the front page of newspapers, but they’re game-changers for corporate treasurers managing complexity across 100+ accounts globally,” Rekate explains. “That’s how we turn operational strength into strategic value.”
An integrated model for integrated clients
Citi’s 2024 internal restructuring helped to sharpen this client delivery model. With new leadership under Viswas Raghavan as head of banking and the introduction of a client executive role, the bank has simplified decision-making, accelerated approvals and removed layers of internal governance. “It means I spend more time with clients now than I used to,” Rekate notes. “We’ve made the bank easier to navigate, without compromising on compliance or sophistication.”
This structural clarity enables Citi to mobilise specialists across capital markets, FX, commodities and services in ways that match how clients operate.
While 2025 brings new uncertainties, from tariff disruptions to credit stress, Citi remains steadfast in its long-term approach. “We’re committed through cycles and that stability is what our clients value most,” highlights Rekate.
