This is to support Citi’s wealth management business, as the APAC wealth market “stands out in its scale and growth potential” for the bank.
Citi will recruit 2,300 professionals (including 1,100 relationship managers and private bankers) for its wealth hubs,
Singapore and Hong Kong.
The bank’s Win in Wealth campaign is to add more than US$150bn AUM (assets under management) across its Asia Pacific franchise,
including US$120bn in the high-net-worth segment.
The company is already a top-three wealth player in APAC.
Peter Babej, Citi’s APAC CEO, affirmed:
“The Asia Pacific wealth market stands out in its scale and growth potential.
And this is not a cyclical opportunity – it is structural, driven by the emergence of a vast middle class and the rapid development of regional capital markets.”
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