Published On: Sun, Jul 11th, 2010

Citi Takes Seat on Indonesia Stock Exchange

Citigroup Inc. said it has received approval from the Indonesian Stock Exchange to broker equities in the country.

The stock-exchange seat will enable Citigroup to offer local and international clients direct access to Indonesian shares.‪ Citi, which started operations in Indonesia during 1968, already has sales and trading in foreign exchange, fixed income, credit and commodities in the country.

The U.S. bank also has an equity research group in the country, which it has been expanding since the beginning of this year in anticipation of its seat approval by the Indonesian Stock Exchange.‪ “We continue to invest in our Asia Pacific equities franchise to help our local clients and also our global clients who are increasingly looking to invest in Asian equities given the regional growth prospects,” said Adrian Faure, Citi’s Asia Pacific head of equities.‪ “It will also make it easier for our clients to invest in the Indonesian market.”

Citi has equity desks in more than 80 countries globally and is the largest foreign bank in Indonesia by assets.

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