Citi corporate client Xerox wins Adam Smith award Business Wire LONDON -- June 20, 2013 Citi congratulates Xerox, one of its corporate clients, on winning the prestigious Adam Smith Award for best Foreign Exchange Solution from Treasury Today. The award will be presented to Xerox today at a special lunch for winners at the Plaisterers’ Hall in London. The Adam Smith Awards recognise best practice and innovation by corporate treasuries, and are now in their sixth year. In 2013, there were a record 214 nominations from 25 countries. Xerox won its award for its dynamic layered hedging solution that was structured by Citigroup Foreign Exchange and Local Markets Group. This product gives the firm a systematic and easily understood framework by which to make decisions regarding the hedging of foreign exchange exposure, and by so doing eliminates much of the guesswork usually found in that process. “We knew we were doing something ground-breaking,” said Rhonda Seegal, Xerox vice president and treasurer. We knew we had a winner at Xerox. Our system reflects best practices and provides a direct positive impact on the bottom line.” The solution has already yielded very positive results, smoothing currency volatility while at the same time enhancing transparency, says Xerox. This has been particularly true in recent months during the period of volatility in the Japanese yen, to which Xerox has considerable exposure. The solution afforded stable earnings, a better all-in hedge rate and appreciable savings. “We are delighted that Xerox has won this award and we congratulate them for it. Xerox is a very valued corporate client and we are very happy, but not surprised, that the hedging solutions package has worked out so well for them. This award underlines Citi’s position as the leading provider of foreign exchange services to corporate hedgers,” said Bernie Sinniah, global head of corporate FXLM sales at Citi in London. 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 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 Contact: Media Contacts London: Simon Boughey +44 207 508 3864 firstname.lastname@example.org
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Citi corporate client Xerox wins Adam Smith award
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