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Essay / Research Paper Abstract
A 5 page paper weighing the benefits of Citigroup and Bank of America as the choice for a company planning international expansion in upcoming months. There are other banks that could serve the company's needs, but Citigroup is the recommended choice. Operating in over 100 countries, it likely already operates in any country that Acme would choose and will be able to provide benefits beyond only banking. Citigroup will be able to provide centralized cash management, competent foreign exchange service and will be able to provide short-term investment service for excess cash balances. Bibliography lists 7 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSbankGlobSel.rtf
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Unformatted sample text from the term paper:
As the Acme Company weighs strategic options for expanding internationally, it realizes eventually it will need the services of an international bank. At present it appears that South America
and Asia are the most likely choices for expansion, and the company will expand to each over time. The Acme Company wishes to choose a bank now, one that
will give it international flexibility but also operate at a high level of stability. The purpose here is to choose a bank that can meet Acmes anticipated financial needs,
including the finances of international trade and foreign exchange management. Citigroup and Bank of America are the leading choices. Citigroup Citigroup Inc.
has a holding company structure, conducting its business activities "through the Global Consumer, Global Corporate and Investment Bank (GCIB), Private Client Services, Global Investment Management (GIM) and Proprietary Investment Activities
segments" (Citigroup Inc., 2005). It has 253,000 employees and operates in more than 100 countries. Citigroup CFO Todd Thomson aptly describes
the banking business as being that of taking risk. He says, "When youre in the business of taking risk, every once in a while youre going to lose money,
and we do" (Reason, 2003; p. 79). In the early years of the new century, the organization also was found to be implicated in several of the accounting and
management scandals that unfolded with such frightening rapidity. Despite record levels of revenue, ROE has been falling slightly but steadily over the past
three years. Analysis by the DuPont identity reveals that Citigroups net income to revenue ratio has been falling as well, as has revenues to assets. This is seen
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