British American Awards Cash Management Mandate to Citi
British American Tobacco (BAT), the world’s second largest quoted tobacco group by market share, has awarded Citi’s Global Transaction Services (GTS) business a cash management mandate. The mandate is focused on helping with the migration of BAT’s business for the Middle East, North Africa and Turkey into its shared service centre (SSC) in South Africa.
Citi will be providing BAT with a complete suite of products and services, which consist of a full host-to-host payments solution, a cross-currency liquidity solution, domestic cash management services in all countries in scope and a bespoke service model with in-country CitiService for the local entities, and centralised service in Johannesburg for the SSC.
Annette Owen, BAT’s global cash and banking manager, said: “Citi was invited to participate in the RFP to provide a robust banking solution to support the centralisation of Middle East, North Africa and Turkey into our shared service centre in Stellenbosch. Citi was selected not only because of its market-leading products, but also for understanding our systems and processes, commitment to clients and competitive pricing.”