Japan's best international bank 2022: Citi
Citi’s global franchise needs little introduction. The same is the case in Japan, where the US bank has been present for 120 years and has built a reputation for offering world-class financial products and services.
Under the leadership of Lee Waite, Citi’s Japan chief executive, the bank delivered on all fronts during Asiamoney’s awards period of April 1, 2021, to March 31, 2022 – whether offering solutions on complex products, providing comprehensive research, being a thought leader or championing social causes. These feats make Citi Asiamoney’s best international bank in Japan and best bank for diversity and inclusion in 2022.
One transaction in particular stands out. In September 2021, SBI Holdings announced a tender offer for mid-sized lender Shinsei Bank.
Even though the rationale for the ¥116.4 billion (then worth $1.1 billion) acquisition bid was strong, the offer shook Japan’s rather conservative investment banking landscape because it was the first unsolicited takeover bid in the country’s financial services industry.