Hospira Names Citi Regional Cash Management Bank

Citi's Global Transaction Services has been named by Hospira, Inc. (Hospira), one of the world's pharmaceutical and medical delivery companies, as its primary cash management bank across Asia Pacific. In acting as regional cash management bank for Hospira, Citi will

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Citi’s Global Transaction Services has been named by Hospira, Inc. (Hospira), one of the world’s pharmaceutical and medical delivery companies, as its primary cash management bank across Asia Pacific.

In acting as regional cash management bank for Hospira, Citi will provide cash and liquidity management solutions for the company across seven markets in Asia Pacific consisting of Australia, Hong Kong, Malaysia, New Zealand, Philippines, Singapore, and Taiwan.

Under the mandate, Citi will provide Hospira with an array of innovative and efficient solutions to optimize cash and liquidity management across Asia Pacific. These solutions include account services, e-banking platforms, liquidity and investment solutions, payables and receivables services.

For Hospira, mandating Citi is consistent with its goals of partnering with a bank with a regional presence and the ability to innovate and customize. By partnering with Citi, Hospira will receive numerous benefits to its existing cash management and liquidity structure in Asia Pacific. In each country, Citi will simplify banking structures, improving controls and transparencies, while also providing a consistent and standardized cash management platform in all markets.

In winning Hospira’s Asia Pacific cash management business, Citi continues its leadership in securing a virtual clean sweep of all regional deals in Asia Pacific. The deal is also significant in further solidifying Citi’s unmatched ability to provide the complex solutions based on product strength and end-to-end support.

“We are currently working on several cash management initiatives in Asia Pacific and we are extremely pleased to partner with Citi to achieve our objectives of standardization and consistency in this region,” says Todd Williams, area treasurer, Asia Pacific at Hospira.

“By winning Hospira’s cash management business, Citi continues to display unmatched leadership in providing cash management solutions to the world’s largest pharmaceutical firms,” says Ivo Distelbrink, managing director, regional head of treasury and trade solutions sales, Asia Pacific and Japan. “We are proud to partner with Hospira for their regional cash management needs in Asia Pacific, helping them streamline and improve efficiencies across its treasury functions, which is ever more important in today’s environment.”

D.C.

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