| NEWS ARCHIVES |
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| Citigroup to hire 200 in Singapore this year |
| 12 Mar 2010 |
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Citigroup said today that it intends to embark on aggressive hiring plans in Asia this year, including increasing its headcount in Singapore.
Citi’s Asia Pacific joint CEO Shirish Apte says the bank will hire about 200 people in Singapore this year.
Most of the new hires across Asia will be for the consumer bank unit, which has plans to open new branches in most Asian cities.
The hiring is part of Citigroup’s aims to win a larger share of Asia's equity capital markets.
The firm has been extending its reach and hiring people across Asia even as it streamlines its North American operations.
Citigroup also wants to expand in Indonesia by getting a stockbroking licence.
It recently started retail banking in Vietnam, and has announced plans to set up an Islamic subsidiary in Malaysia as well as venture into rural areas of China.
Asia accounted for 30 percent, or 4.5 billion US dollars, of Citigroup's net income last year.
The region accounts for about a quarter of its revenues. |