Excellence in leadership in Latin America 2020: Citi

Citi worked hard to mitigate the effects of the pandemic throughout central and Latin America and, given its history and geographical spread throughout the region, its impact was widespread.

Led by Latin America chief executive Ernesto Torres Cantú, Citi acted quickly to protect staff and support clients.

The bank saw a large initial wave of demand for liquidity as corporate clients sought to build up cash reserves as economies closed down. It was active at the multinational level, leading a new bond deal for the Central American Bank for Economic Integration, and at the national level, working on Peru’s $3 billion bond and leading an exchange of bonds for Argentina Airport – which had an 85% acceptance rate.

Citi generated liquidity for clients through credit facilities, including supply-chain, trade-finance and other liquidity optimization strategies. The bank also supported retail and small and medium-sized enterprises in jurisdictions where it has an active consumer and commercial bank, such as Banamex in Mexico.