Citi Singapore has set up a new China Desk to encourage more Chinese companies looking to expand globally to do business in Singapore.
The China Desk will consist of 10 relationship managers and product specialists who will work closely with Citi’s offices throughout China and offer customized package of integrated solutions for firms from the mainland.
Citi will also provide an integrated financial solutions package that includes cash management, trade services and finance, securities and fund services, FX, interest rates and commodities.
In addition, employees of the companies will have access to a full suite of customized financial products and services to meet their personal banking and financial needs through the consumer Citibank.
Citi Singapore Global Transaction Services head Melvyn Low said that over the past 12 to 18 months, the bank has continued to see Chinese companies keen to establish overseas treasury and re-invoicing centers to improve their liquidity management as they expand their business overseas.
“We expect this demand to treble by the year end and we have put in place a solid infrastructure of people, processes and solutions to meet this rising need,” Low said.
Citi China Corporate Bank head Henry Zhang said that they are actively encouraging Chinese companies to include Singapore on the list of choices for regional centers and are connecting them to Citi’s comprehensive and powerful platform in Singapore.