Cash & Liquidity ManagementCash ManagementShell selects Citi for Europe cash management services

Shell selects Citi for Europe cash management services

Citi’s treasury and trade solutions (TTS) division has been appointed by Shell as its sole bank provider for cash management services across 16 countries in Europe.

Citi’s treasury and trade solutions (TTS) division has been appointed by Shell as its sole bank provider for cash management services across 16 countries in Europe.

Citi said that it will provide the global energy and petrochemicals company with a ‘single bank’ solution, providing full end to end visibility as well as control and optimisation of its cash management requirements throughout the region.

The bank already has a long-standing cash management relationship with Shell and the new mandate will expand it to include the delivery of cash management services across the region that support Shell’s euro, sterling and Swiss franc needs. These include a suite of several hundred operating accounts in the three currencies.

Citi will also support Shell with a range of domestic and cross border payment and collection instruments, including millions of single euro payment area (SEPA) card clearing transactions for Shell’s downstream retail business in Germany plus SEPA direct debits (SDDs) for customers across its downstream markets in 11 other countries.

To facilitate efficient working capital management for Shell, a zero balancing liquidity management solution will underpin these services, delivered through a fully integrated technology platform.

“Through the connectivity of our proprietary network we can offer Shell the visibility, consistency and safety of a single cash management bank in Western Europe, and drive more effective working capital management,” said Naveed Sultan, Citi’s global head of treasury and trade solutions.

 

 

Related Articles

AccessPay appoints Tim Butchart as Chief Revenue Officer

Cash Management Regional AccessPay appoints Tim Butchart as Chief Revenue Officer

3m Jay Ashar
Standard Chartered to strengthen cash management in Europe

Cash Management Standard Chartered to strengthen cash management in Europe

4m Jay Ashar
J.P. Morgan unveils new liquidity management platform

Cash & Liquidity Management J.P. Morgan unveils new liquidity management platform

4m Jay Ashar
UX design for cash management

Cash Management Regional UX design for cash management

4m Shaahin Mohammadi
Citi TTS partners with software fintech to simplify cash management

Cash Management Citi TTS partners with software fintech to simplify cash management

5m Austin Clark
Bank of America joins the Marco Polo Network

Accounts Receivable Bank of America joins the Marco Polo Network

5m Jay Ashar
Justin Meadows joins FXD Capital as Non-Executive Director

Cash & Liquidity Management Justin Meadows joins FXD Capital as Non-Executive Director

5m Jay Ashar
ANZ turns to Gresham for cash management solution

Cash Management ANZ turns to Gresham for cash management solution

5m Jay Ashar

Whitepapers & Resources

Transaction Banking Survey 2019

Transaction Banking Survey 2019

5m
TIS Sanction Screening Survey Report

Payments TIS Sanction Screening Survey Report

8m
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

9m
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

1y