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Press Release

Naser Taher awarded ‘Chairman of the Year’ in Dubai

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The Chairman of MultiBank Group took home the top award, and the MultiBank Group was also awarded the Leading Financial Derivatives Institution
DUBAI, UAE, Feb. 23, 2023 /PRNewswire/ — The Prestigious Le Fonti Awards Ceremony was held on Thursday night, 16th of February at The Palace Downtown Dubai, hosting prominent business leaders from around the globe.
 
 
 
The annual Awards honor the highest levels of business excellence and are acclaimed across the industry as a true quality mark. At the ceremony, MultiBank Group was awarded the ‘Leading Financial Derivatives Institution’; and Chairman Mr. Naser Taher was recognized as the ‘Chairman of the Year’.
Speaking on the double win, Chairman Mr. Naser Taher said, “It is a testament to the dedication, and commitment of our team,” recognizing the efforts of the entire MultiBank Group. In his speech, Mr. Taher stated, “MultiBank Group has grown to be one of the largest, if not the largest, financial derivatives institution with a daily turnover of USD 12.1 billion, over 1 million customers, and over 30,000 institutional clients. Additionally, we maintain an unblemished record with all our 11 regulators since 2005.”
Le Fonti focuses on enhancing companies’ unique features. Fostering a business community of over ten million people globally, the event offered an opportunity for industry leaders to connect, learn and grow with each other. The Summit and Awards Ceremony was followed by an entertaining Gala Dinner, summing up a successful night.
About MultiBank Group:
MultiBank Group was established in California, USA, in 2005. It now boasts a phenomenal daily trading volume in excess of US$ 12.1 billion per day and provides services to an extensive client base of over 1,000,000 customers from over 100 countries across 5 continents worldwide. Since its inception, MultiBank Group has evolved into one of the largest online financial derivatives providers worldwide, offering brokerage services and asset management. The group offers its valued customers award-winning trading platforms, with up to 500:1 leverage on products including Foreign Exchange, Metals, Shares, Commodities, Indices and Digital Assets. For more information about MultiBank Group, please visit https://multibankfx.com/.
SOURCE MultiBank Group

Press Release

Citibank Singapore Appoints Matt Read as Retail Banking Head

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Corporate veteran to build on good start to bank’s bold wealth management goals
SINGAPORE, Feb. 23, 2023 /PRNewswire/ — Citi has named Matt Read as Citibank Singapore’s Retail Banking Head, effective April 17. Matt will lead the Singapore retail banking franchise, one of the global bank’s largest and most innovative businesses.

Matt will be part of the Senior Management Group for Citibank Singapore, reporting into Brendan Carney, Chief Executive Officer of Citibank Singapore, and Shyam Sambamurthy, International Head of Citigold and Citigold Private Client (CPC).
Commenting on the appointment, Brendan said: “We have made a great start to the bank’s refreshed strategy to grow our wealth management business. Matt’s familiarity with Singapore and Citi’s Singapore business and his senior management experience across multiple international financial institutions including Citi, make him the right leader to build on our existing success and accelerate our progress.”
Shyam added: “Asia is a key contributor to the Citi Global Wealth business and the region is critical to the firm’s aspirations to be a global leader in wealth management. Singapore is one of four of Citi’s global wealth hubs, and with Matt’s leadership, we will continue to grow and extend our market presence here.”
As a top-three wealth manager in Asia, Citi aims to extend its leadership across Singapore and Hong Kong by adding US$150 billion in assets under management (AUM) by 2025. Its overall goal in Singapore is to triple AUM and increase wealth clients by 2.5 times by 2025.
Singapore has made a strong start towards these goals, with a Compound Annual Growth Rate (CAGR) of 45 per cent in new Citigold plus CPC clients since 2020. It also saw a similar surge in Net New Money since 2020 on the back of rigorous client engagement and competitive deposit promotions.
Singapore is significant to Citi’s global retail growth strategy, and Matt will lead Citi’s talented local team to deliver on the bank’s ambitions in wealth management. He joined Citi in 2017 as Head of Sales & Distribution for 17 markets across Asia Pacific & EMEA, overseeing sales productivity across Citi Priority, Citigold & CPC segments. He has also been responsible for managing the digitisation and transformation of Citi’s branch network.
Matt has held senior roles in Sales & Distribution, Operations and Compliance, with significant country leadership experience in blue chip companies such as ANZ and GE Capital. He joined Citibank from ANZ, where he was Head of Wealth Distribution & Branch Network (Asia Pacific) having accountability for the Affluent Banking & Private Wealth segments.
Matt has lived in Singapore for 17 years and is a Permanent Resident. He has also lived and worked in Thailand,  Indonesia and Australia. He holds a Bachelor of Commerce degree and a Master of Business Administration from the University of Melbourne in Australia.
About Citi:
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
About Citi Global Wealth:
Citi Global Wealth is an integrated wealth management platform that delivers a total wealth solution to clients across the wealth continuum. Citi Global Wealth serves ultra-high-net-worth individuals and family offices through Citi Private Bank, operates in the affluent and high-net worth segments through Citigold® and Citigold Private Client, captures wealth management in the workplace through Global Wealth at Work and provides premium banking and lending service for clients of RIAs through Citi Alliance. Citi Global Wealth provides clients with a leading investment strategies platform, which delivers traditional and alternative investments, managed account strategies, best-in-class research and investment guidance for all clients.

SOURCE Citi

Press Release

Labuan IBFC’s Updated Corporate Video

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KUALA LUMPUR, Malaysia, Feb. 20, 2023 /PRNewswire/ — Labuan International Business and Financial Centre (Labuan IBFC) has launched a new corporate video, showcasing its unique advantages and offerings to global investors and businesses. Located off the coast of Borneo, Labuan IBFC is a wholesale financial, risk, and wealth management centre that provides fiscal, legal, and currency neutrality, making it an ideal location for cost-efficient substance creation.

Labuan IBFC offers a wide range of business structures, including solutions for fintech or digital businesses, and is home to the world’s first Sukuk. It is also acknowledged as an Islamic financial hub, making it an attractive destination for businesses seeking to tap into the rapidly growing Islamic finance market.
Supported by a robust, internationally recognised legal framework, Labuan IBFC operates within comprehensive legal provisions and guidelines, enforced by a single regulator, Labuan Financial Services Authority. The authority is a statutory body under the Ministry of Finance, Malaysia, and is known for its business-friendly approach.
Labuan IBFC’s new corporate video highlights its key advantages and unique offerings, providing a glimpse into the world of Labuan IBFC and its potential for investors and businesses looking to expand their reach in Asia and beyond.
With its excellent infrastructure, comprehensive legal framework, and strategic location, Labuan IBFC is poised to become one of the most attractive financial and business centres in the Asia-Pacific region. The launch of its new corporate video is a significant step towards achieving that goal, and Labuan IBFC is confident that it will help to showcase its unique offerings to the world.
Download Labuan IBFC’s corporate video, here.
ABOUT LABUAN IBFC
Labuan International Business and Financial Centre (Labuan IBFC), Malaysia, through its internationally recognised yet business-friendly legal framework, is the preferred international business and financial centre in the Asia Pacific region.
It offers global investors and businesses the benefits of being in a well-regulated jurisdiction, while providing for fiscal neutrality and certainty, in addition to being an ideal location for substance creation.
Labuan IBFC boasts a wide range of business structures and investment solutions catered to cross-border transactions and international business dealings. It offers services and solutions in niches such as asset leasing, risk management, commodity trading, wealth management, international business companies and Islamic financial services to global businesses looking at penetrating Asia and Asian entities aiming to go global.
Labuan IBFC operates within clear and comprehensive legal provisions, guidelines and practice notes, enforced by a single regulator, Labuan Financial Services Authority.
For more information about the jurisdiction, visit www.labuanibfc.com.

SOURCE Labuan IBFC