Market Chatter: Citigroup to Boost Asia-Pacific Brokerage Staffing by 10%

MT Newswires Live05-14

Citigroup (C) plans to boost the staff at its Asia-Pacific prime brokerage this year by about 10% this year, Bloomberg reported late Wednesday, citing two executives.

The expansion plans will focus on Singapore and India, where the bank is hiring personnel in front-office roles and IT, Bloomberg said, citing Sue Lee, Citigroup's head of markets for Asia South.

Paul Smith, Citigroup's head of markets for Japan, North Asia and Australia, was quoted as saying that customers want choices.

"Clients continue to onboard multiple prime brokers," he said. "Hedge fund clients want choices of prime relationships."

Meanwhile, Lee said that tech firms in Southeast Asia want to list on Singapore's exchange, according to the report.

Citigroup did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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