March 17, 2015 / 1:00 PM / 4 years ago

BRIEF-Citigroup to exit Argentina custody business

March 17 (Reuters) - Citigroup Inc : * Plans to have citibank Argentina unit develop and execute plan to exit

custody business in that country as soon as possible — court filing from

bank lawyer * Says made decision in light of recent court order blocking it from processing

some Argentina bond payments, and Argentina’s threat to strip its banking

license * Has yet to determine precise manner by which citibank Argentina will exit

custody business * Says exit may include sale of parts of custody business, or ending its

account relationships with some customers * Says upon exiting custody business, citibank Argentina will have no role in

overseeing any securities, including argentine law bonds, in Argentina for

any client

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