Awards for Excellence 2018
Citi wins the region’s best bank for financing award. The investment banking team, led by Chris Gilfond, head of capital markets origination at Citi Latin America, has enjoyed greater focus from management as the bank pulled out of all but one of the region’s retail markets. After a string of disposals in recent years, it has been reinvesting.
Jane Fraser, Citi’s chief executive in Latin America since April 2015, likes to cite the example of Citi Argentina, which has a bigger local balance sheet after the sale of its retail business to Santander Rio – now it is all just focused on its Institutional Clients Group (ICG) business.
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Chris Gilfond |
And like the other international banks in Latin America, Citi has leveraged its global network to lead its corporate focus. The bank’s local client list has shrunk from around 8,800 to just 1,500 companies.
At the same time, the list of global subsidiaries in the region rose just slightly (up 5% to around 6,000) and Citi was able to maintain regional revenues at $4.2