Business to focus on mid-market clients with
global ambitions
TORONTO, July 20,
2022 /CNW/ - Citi (NYSE: C) has launched Citi
Commercial Bank (CCB) in Canada as
part of a global expansion announced earlier in 2022. CCB
delivers Citi's wide array of institutional products and solutions
to meet the evolving needs of mid-size corporates as they grow
rapidly and expand internationally.
A division of Citi's Institutional Clients Group (ICG), Citi
Commercial Bank was established in 2011 as a global coverage
business to reach the vast middle market space. It has grown
significantly to support companies headquartered in nearly 40
countries, now including Canada,
and their global subsidiaries around the world in over 90
countries. CCB recently announced plans to hire 900 people,
including more than 400 commercial bankers, over the next three
years globally.
Citi has recently hired Casey
Coates as the Head of CCB for Canada. Previously,
Casey was a Managing Director at another Canadian firm, where he
led coverage for Global Corporate and Institutional Banking
clients.
"Around the world, medium-sized companies are quickly outgrowing
the capabilities of local and regional banks," said Raymond
Gatcliffe, Head of CCB North America. "We are pleased to be able to
offer these clients the same capabilities that we offer the world's
largest companies, customized to their specific needs."
"As mid-sized organizations increasingly look to offer their
products and services in the global markets, this is the perfect
time for us to enter this important business segment in
Canada," said John Hastings, CEO of Citibank Canada. "Citi
Commercial Bank is complementary to our existing institutional
banking and Citi Private Bank offerings. As a result, we expect to
be able to hit the ground running."
Citi is one of Canada's largest
and longest-serving foreign banks, and a significant employer
across the country, with seven business lines and offices in
Toronto, Mississauga, Montreal, Calgary and Vancouver.
Citi Commercial Bank
Citi Commercial Bank puts 200 years of experience to work for
midsized, globally oriented companies by delivering actionable
insights and ideas, comprehensive banking solutions and a truly
global network. The Commercial Bank helps mid-sized companies with
revenues starting from $10M 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.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook:
www.facebook.com/citi | LinkedIn:
www.linkedin.com/company/citi
SOURCE CITIBANK CANADA