Citi

Citi is the leading global financial services company with approximately 200 million customer accounts and does business in more than 140 countries.  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, and wealth management. 

Citi has had a presence in Ireland since 1965 and celebrates 45 years in 2010.  The company offers a broad range of financial services and products and also has operations which support the products and services for Citi’s Global Transaction Services business.  The bank provides financial services and products for multinational companies, Irish companies and the government and public sector.  The range of products and services offered are cash management, rate risk management, (FX and interest rates), funding, investor products, corporate finance, trade services, custody, trustee services, fund administration, transfer agency, outsourcing and shareholder services.

Citi was the first international financial institutions to receive RD&I financial assistance from the Irish government. To date Citi has invested €62 million in RD&I projects in Dublin and created a Centre of Excellence for the development of products and processes for Citi’s EMEA business.  The projects in the Centre include the development of the next generation of ebanking projects and the next generation of intelligent payment solutions.  The Centre will employ 100 people by end of 2010. 

Citigroup views innovation as key to the company’s growth agenda:

• Process efficiencies are seen as incremental ‘Business as Usual’.
• The RD&I centre aims to drive future change.
• The centre is working to instill across the Group a culture of continuous product and process innovation.
   

Citigroup uses a number of innovation approaches including:

• Client workshops (De Bono techniques to drive out new ideas).
• Organising social events to give visibility of projects to senior managers in order to gain senior global sponsorship.
• Collaboration with universities and SMEs - Engaged with UCD on an anti-money laundering project.
• A “Dragon’s Den” type scenario with a €20,000 prize awarded for the best new idea from staff on the floor.
   

Fast moving, dynamic companies thrive in Ireland due to its unique workforce with 36% of the population under 25 years of age. They also profit from an experienced and skilled workforce which has decades of experience in the financial sector. This combination of youth and experience forges an ideal environment for leading financial companies.

Ireland offers a 12.5% Corporation Tax on all trading activities, with a comprehensive Double Taxation treaty network, combined with a range of other tax advantages such as Research and Development tax credits and patent royalty tax exemptions.

Further benefits of locating in Ireland in Why Ireland?