SPX Appoints Citi for Regional Cash Management
Citi’s Global Transaction Services has been appointed by SPX Corporation (SPX) as its primary cash management bank across Asia-Pacific. In this role, the bank will provide liquidity management solutions for the company across 11 markets consisting of Australia, Hong Kong, India, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan and Thailand. Citi says that SPX will receive full visibility of accounts and standardised end-to-end processing of payables and receivables.
Stephen Winslow, assistant treasurer of SPX, said: “As we look to drive greater efficiencies in our regional cash management structure, we are very pleased to partner with Citi in Asia-Pacific. We are confident that our relationship with Citi will produce strong results and leverage off its experience in servicing the region.”