[naewoeilbo내외일보] Lee Su Han이수한 기자=Citi has been awarded the “Best in Corporate Trust” award in Asia by The Asset magazine’s 2019 Triple-A Asset Servicing, Investor and Fund Management Awards.

The award, decided by the Asset’s editorial team, assesses and recognizes both sell side service providers and buy side institutions to deliver a complete account of Asia’s highly dynamic asset servicing industry.

Last year was a record year for Citi’s Agency and Trust (A&T) business in Asia which delivered growth across key markets such as China, Korea, India, and across ASEAN.

The team won landmark transactions including the Tata Consultancy Services Buyback – the largest buyback in Indian capital’s market history. Other public client work included a 17-year BRI project finance deal that helped finance the First Dhaka Elevated Expressway.

Citi’s A&T business brings market-leading solutions and global connectivity to support clients in accessing global capital markets. Citi A&T provides clients with solutions including acting as paying agent, note trustee, security trustee and escrow agent roles across a range of different financings such as bonds, loan, securitization, project finance, complex acquisitions and restructuring transactions. These roles form a critical part of the post-closing administration of any financing transaction.

“This is the 9th time that we have won this award in the past ten years which underlines our commitment and consistency in this business. It is particularly pleasing that Citi has now received the Best in Corporate Trust award for the past four years in succession. This is reflective of strong client relationships, Citi’s global network and commitment to deliver best in class execution for clients across a wide range of products,” said Adrian Nye, APAC Head of Issuer Services at Citi.

“Citi provided all required onshore and offshore services altogether including corporate trust and transaction administration services for the Asset Backed Securitization through which Korean card and auto loan companies borrow the fund at lower cost. With this regard, Citi have continued to lead the securitization market over more than 10 years in Korea and Asia, which seems to be the big contributor to win this award again,” said Byung-Chul Ban, the Trust Division Head of Citibank Korea Inc.

Citi Issuer Services business is a leading provider of Corporate Trust services. Citi leverages its global network to help companies connect to old and new markets alike and raise capital worldwide.