Citi has extended its liquidity management network by adding notional pooling in Amsterdam, so clients now have global hubs for liquidity management across six money centres: New York, London, Amsterdam, Singapore, Hong Kong, and Tokyo.
“Our established pooling centres have experienced significant growth in the past several years, following the global financial crisis, and a number of our clients desired expansion of our programme to new markets,” said Amit Agarwal, Europe, the Middle East and Africa [EMEA] head of liquidity management services, treasury and trade solutions, Citi.
“The Netherlands was already a major treasury centre for multinationals, given its favourable tax and regulatory regime. In recent years, many emerging market companies have also set up treasury centres there, adding to the flows,” he added. “The introduction of the single euro payments area [SEPA] will also have a positive impact on centralisation, with likely consequent further growth in the Netherlands as a liquidity hub.”
Elyse Weiner, global head of liquidity management services, treasury and trade solutions, Citi, commented: “With internal liquidity and funding a prime focus for global enterprises, clients continue to work with Citi so they can mobilise cash from nearly anywhere in the world.
“With the Netherlands a hub of treasury activity, we responded to market demand by expanding our notional pooling capabilities, providing clients with additional flexibility in designing an optimal global liquidity structure.”
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