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Citi's Balance Sheet Makeover

In the midst of the financial crisis, Eric Aboaf stepped in to transform the bank's liquidity and funding profile.

By Richard Gamble | Updated on September 02, 2010

What a difference a year makes. On Aug. 2, Citigroup Treasurer Eric Aboaf led a $3 billion offering of senior unsecured debt in the form of $2.25 billion in 10-year bonds at 5.375% and a $750 million reopening of Citi’s outstanding 4.75% notes. The offering was about three times oversubscribed, with a book approaching $8 billion. It was a far cry from just over a year ago in April 2009 when Aboaf stepped into the role of the bank’s treasurer in the midst of the credit crisis.

Now Aboaf is ready to talk about the defining moments of crisis treasury management and how Citi has transformed its balance sheet, liquidity and funding profile.

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