Citi Opens Operations Hub in Singapore
Citi opened a new global operations and technology building in Singapore yesterday. The purpose-built hub, a first for Citi in the Asia Pacific, is a center of operations and technology accommodating 2,000 staff and serving various Citi businesses across 40 countries around the world.
The 200,000-square feet new building, which reportedly cost more than $100 million to construct, hosts a number of Citi's major processing hubs, including the Regional Service Center for securities and funds administration and the Regional Cash Processing Management Unit. In addition, it also houses global processing centers for wealth management, transaction services operations, technology infrastructure support and data center services for multiple Citi businesses in Asia Pacific and globally.
Jonathan Larsen, country head and Citi country officer for Singapore, added, "This new operations and technology building represents a strategic investment in Singapore for Citi. It reinforces Singapore's role as Citi's strategic hub for regional management, marketing, operations and technology globally. We have been steadily increasing our presence in Singapore and are delighted that our latest and 22nd Citibank branch is right here in this building. Citi will continue to invest and be committed to our clients, our employees and the community in Singapore."
Citi's new operations and technology building has incorporated environmental and energy-saving features, which won it the Platinum Green Mark Certification, Singapore's highest environmental honors, from the Building and Construction Authority in May 2009.
This is part of Citi's global pledge to embed eco-friendly practices in our everyday business and reduce greenhouse emissions by 10% by 2011. It has also met Citi's objective of achieving environmental certification for the construction of all new office buildings.
Some of the green features include low-emission glazing on the building faade, intelligent building energy management systems and green roof systems for solar and thermal insulation. These help reduce the building's energy consumption by up to 33% and also ensure an uninterruptible power supply, critical to round-the-clock operations.