I was researching career options, and came across this in JP Morgan, Citi, BAML and DB -- Global Transactions Banking. Iterations of name include Global Cash Management Solutions, Global Treasury Solutions. Seems like they help big global companies move their cash around. Sounds interesting, and this is something I could do.
Anyone have any info on these programs? And is this Commercial Banking or Investment Banking? Asking this question because this program is listed under JP Morgan, not under Chase.
Global Transaction Banking Definition
Global transaction banking helps provide liquidity and cash management services to large corporations.
User @clammers1234 shared a simple definition of the division:
Treasury services - basically helps provide liquidity to large corporations and cash management for these companies. At some places, it could be somewhat tied to corporate banking / corporate debt side, but still a very different business meant to offer different solutions.
GTS, which was recently rebranded to CTS at Citi, focuses on cash management, forex and liquidity: it is essentially a treasury services unit within most full-service banks. More specifically it is a low margin, high volume business (on a given transaction the bank probably makes .000003% profit, however they do such a deal with high frequency) At Citi, Transaction Services accounts for about 33% of the firm's revenue. I went through recruiting with them last year, pretty interesting business, but it just wasn't for me.
Understanding Citi Transaction Services
Citi Transaction Services is the most renowned and forward-thinking division at Citi. It not only makes a 1/3 of the revenue but also gives employees great flexibility in their work-life balance. It is a great place to start (and stay) due to the vast and diverse opportunities. In many other areas of the firm, people eventually burn out, whether that is year 2 or 3 or 5+. CTS is a great place to be if you want to:
- Make a lot of money
- Have a life
- Do interesting things
- Learn about a diverse and dynamic field
You can read more about Citigroup on the Wall Street Oasis Company Database.
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