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C » Topics » Strategic rationale

This excerpt taken from the C 8-K filed Oct 2, 2007.

Strategic rationale

 

Since announcing their comprehensive strategic alliance in March 2007, Citi and Nikko Cordial have engaged in extensive integration planning efforts under the direction of a joint steering committee. Citi believes that acquiring 100% ownership of Nikko Cordial will enable the two companies to accelerate and further strengthen their ability to:

 

 

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Create synergies and broaden product offerings between Nikko Cordial Securities’ leading retail brokerage business and Citi's established retail banking and credit cards businesses in Japan, and leverage Citi’s global experience in providing enhanced products and services to retail customers.

 

 

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Enhance the combined group’s ability to deliver integrated products, services and solutions for corporate and institutional clients through Nikko Cordial Securities, Nikko Citigroup and Citibank Japan.

 

 

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Leverage Nikko Cordial’s strong corporate relationships and Citi’s global networks to provide enhanced products and services to Japanese corporate clients doing business overseas.

 

 

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Achieve scale and efficiencies in technology and administrative support by combining support platforms used by group companies in Japan and establishing centers of excellence.

 

 


 

 

 

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Build a strong platform of governance, compliance and controls for the combined group, and maximize capital and funding efficiencies.

 

 

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Continue to leverage and enhance the value of the Nikko brand in securities brokerage, wealth management, asset management and merchant banking.

 

 

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Provide Nikko Cordial employees with world-class training and development opportunities.

 

Citi aims to create the leading comprehensive banking and securities group in Japan by leveraging Nikko’s strong franchise, brand and management talent to better serve customers in the rapidly evolving market for Japanese financial services. Citi also intends to capitalize on the solid historical partnership demonstrated by the two organizations, their complementary capabilities and their common values, including respect for Japanese culture and business practices.

 

"Strategic rationale" elsewhere:

HALCON RESOURCES CORP (RAME)
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