Citi to Acquire ING’s Custody and Securities Services Business in Central and Eastern Europe with €110 Billion in Assets

  Citi to Acquire ING’s Custody and Securities Services Business in Central
  and Eastern Europe with €110 Billion in Assets Under Custody

Business Wire

LONDON -- April 26, 2013

Citi Securities and Fund Services has entered in to a definitive agreement to
acquire ING’s custody and securities services business in seven Central and
Eastern European (“CEE”) markets currently representing €110 billion in assets
under custody. ING is a premier provider of custody services in CEE, offering
services to many of the world's largest financial institutions.

The transaction, which is subject to regulatory approval and clearances,
includes ING’s local custody and securities services businesses in Bulgaria,
the Czech Republic, Hungary, Romania, Russia, Slovakia and Ukraine. Once
implemented, the addition of Bulgaria will extend Citi’s custody network
coverage to over 95 markets and its proprietary custody network will be
expanded to 62 markets.

The acquisition enables Citi to offer investors, intermediaries and issuers
comprehensive securities services in the region through a strengthened country
presence combined with access to Citi’s global banking network. The
transaction will also provide clients with further processing efficiencies and
enable consistency of service across multiple markets. Terms of the deal were
not disclosed. Subject to standard closing conditions and regulatory
approvals, Citi and ING expect this transaction to close in the first quarter

“With this acquisition, Citi has further strengthened its franchise in six
important markets and has added Bulgaria to its proprietary network. We are
now even better positioned to serve local and global investors, intermediaries
and issuers with the best access, insight and expertise in the region,” said
Sanjiv Sawhney, EMEA Head of Securities and Fund Services, Citi. “We look
forward to delivering the same level of exceptional service that ING has given
its clients in the CEE region.”

“ING was one of the first agents to identify the region’s rich opportunities,
rapidly establishing an office network that provided unparalleled geographic
coverage and local expertise,” said Neeraj Sahai, Head of Securities and Fund
Services, Citi. “This acquisition demonstrates our commitment to continually
enhance our securities and fund services capabilities and extending our
leadership position in emerging markets.”

Through its Securities and Fund Services business, Citi’s industry-focused
experts provide institutional issuers, intermediaries and investors worldwide
with tailored solutions delivered through proven global platforms that feature
modular, open architecture. With $13.5 trillion of assets under custody and
the industry’s largest proprietary network, clients can leverage Citi’s local
market expertise and global reach to extract value across the entire
investment value chain.


About Citi

Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.

Additional information may be found at | Twitter: @Citi |
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About Citi Transaction Services

Citi’s Transaction Services comprises Securities and Fund Services and
Treasury and Trade Solutions, and is an integral part of Citi’s Institutional
Clients Group. Transaction Services offers integrated cash management, trade
and securities and fund services to multinational corporations, financial
institutions and public sector organizations around the world. With a network
that spans more than 97 countries, Citi’s transaction services supports over
75,000 clients. As of the first quarter of 2013, transaction services held on
average $415 billion in liability balances and $13.5 trillion inassets under


Media Contacts:
Amy Cayzer
Tel: +44 (0)20 7508 3082
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