Press Releases


Citigroup and HKUST to Host Second Citigroup International Case Competition in Hong Kong

Citigroup and Hong Kong University of Science and Technology (HKUST) announced today that they will host the second Citigroup International Case Competition 2004 from October 26-30. The event will bring to Hong Kong 17 teams of outstanding students from around the world to compete on a real-life business case situated in Asia and provide recommendations on important issues and challenges facing the company involved. From receiving the case to presenting their ideas, each team has a maximum of 36 hours. The case will remain confidential until the formal competition begins on the evening of October 28, 2004.

Branded as an event to showcase Hong Kong as an international center for intellectual exchange, the competition's four-day program will feature a number of high-profile speakers. Frederick Ma, Secretary for Financial Services and the Treasury, HKSAR Government, and Robert Morse, Managing Director and Chief Executive Officer, Global Corporate and Investment Banking Group, Citigroup Asia Pacific, will be the keynote speakers, respectively, for the opening and closing ceremonies. Incorporated in the program is a day for the students to visit Citigroup Hong Kong. Citigroup's senior management and regional economists together with a business professor from the HKUST will present to and discuss with students the current market trends and business opportunities in Asia.

Yuk-Shee Chan, Vice-President for Acadomic Affairs, HKUST
Catherine Weir, Head of Greater China, Global Corporate and Investment Bank, Citigroup

The first competition held in 2003 faced the challenge of convincing universities and students to visit Hong Kong following the SARS epidemic. Following the success of last year's event also held in October, which students and their administrators rated one of the best on the academic case competition circuit for the quality of the environment and the cross-cultural learning opportunities, more teams applied for this year's competition than could be accommodated, according to HKUST.

This year's case has been developed by a team of professors at the HKUST Business School, led by its Associate Dean Kar Yan Tam, especially for the competition. Team performances will be evaluated by a judging panel of 16 members. Among them are four HKUST professors, two from the management of the case company, four representatives from Citigroup, and six senior business representatives from different industries.

Frederick Ma. Hong Kong Secretary for Financial Services and the Treasury - Keynote Speaker
K.C. Chan, Dean, HKUST Business School

"Citigroup is dedicated to community service, taking a lead role in the local community and making a positive difference in the communities where we work and live. The Citigroup International Case Competition is one of the initiatives we have taken to help develop future business leaders and provide a forum for international cultural exchange." said Catherine Weir, Head of Greater China, Global Corporate and Investment Banking Group, Citigroup.

"In April 2004, Citigroup announced that the Citigroup Foundation has made an unprecedented 10-year, US$200 million commitment to support and promote financial education programs around the world. Over the next ten years, Citigroup will touch the lives of millions of people by supporting financial education that will help them achieve their dreams. This is an important long-term initiative that builds on our proud history of financial education and volunteerism."

Dean K.C. Chan of the HKUST Business School said, "We are very pleased to see the overwhelming response the competition has received this year. These enrichment activities are very valuable for developing students' various interpersonal skills and have allowed them to gain international exposure. Furthermore, hosting an international event of this scale allows us to put Hong Kong on the world map of higher educational exchange activities. We would like to take this opportunity to thank Citigroup for their generous support and commitment to educating the next generation."

Most of the programs of the case competition will take place at the Hong Kong University of Science and Technology from October 26-30, 2004, with the exceptions of the Opening Dinner, which will be held at the Hong Kong Convention and Exhibition Center and a half-day educational reception at Citigroup's offices.

1.Carnegie Mellon University, USA
2.Copenhagen Business School, Denmark
3.Fudan University, PRC
4.Hong Kong University of Science and Technology, Hong Kong SAR
5.Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), Mexico
6.McGill University, Canada
7.National University of Singapore, Singapore
8.Peking University, PRC
9.Thammasat University, Thailand
10.Tsinghua University, PRC
11.Universita' Commerciale L. Bocconi, Italy
12.University of California at Berkeley, USA
13.University of Navarra, Spain
14.University of Texas at Austin, USA (2003 Competition Winners)
15.University of Washington, USA
16.University of Western Ontario, Canada
17.Yonsei University, South Korea