- Joined
- Jul 24, 2008
- Messages
- 33,627
- Points
- 0
<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR vAlign=top><TD></TD></TR><TR><TD vAlign=top width=452 colSpan=2>Published April 7, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Citi to hire 200 in Singapore this year
By CONRAD TAN
CITIGROUP plans to hire 200 staff in Singapore this year, a sign of the bank's growing confidence in the strength of the economic recovery - and in its own financial position.
Citi said yesterday it will add 200 new hires to its corporate, consumer and private banking businesses here by the end of the year, confirming a BT report in February. Citi employs about 8,000 people in Singapore.
Its private banking unit is hiring some 40 people across Asia-Pacific - based mainly in Singapore and Hong Kong - to serve clients in the region.
'We are hiring private bankers and product specialists for the entire region, especially growth markets such as China, India, Singapore, Hong Kong, Taiwan and Indonesia,' said Mark Morgan, global head of human resources at Citi Private Bank.
The private bank has about 800 relationship managers and product specialists in Asia-Pacific.
'Asia's wealth creation is expected to grow at 14 per cent per annum over the next few years, and we expect to expand headcount to take advantage of that growth,' Mr Morgan said.
Citi has restarted hiring after a bruising year in which it split into two and sold billions of dollars of assets as part of an agreement with the US government, which owns a 27 per cent stake in the bank.
Chief financial officer John Gerspach said last month the bank had already begun to make new investments in Asia and Latin America, the two regions it is looking at for most of its growth in the next few years.
The group cut its headcount substantially during the financial crisis. At the end of last year it had 265,000 staff worldwide, compared with 323,000 a year earlier and 375,000 at end-2007.
It made a narrower net loss of US$1.6 billion last year, compared with a US$27.7 billion loss in 2008, though its operations in Asia remained profitable.
Last year, Asia-Pacific contributed about US$4.5 billion, or some 30 per cent, of net income and almost US$14 billion, or 23 per cent, of revenue at Citicorp, the main operating unit of Citi which contains its core retail, commercial and investment banking operations, as well as its global transaction services business.
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Citi to hire 200 in Singapore this year
By CONRAD TAN
CITIGROUP plans to hire 200 staff in Singapore this year, a sign of the bank's growing confidence in the strength of the economic recovery - and in its own financial position.
Citi said yesterday it will add 200 new hires to its corporate, consumer and private banking businesses here by the end of the year, confirming a BT report in February. Citi employs about 8,000 people in Singapore.
Its private banking unit is hiring some 40 people across Asia-Pacific - based mainly in Singapore and Hong Kong - to serve clients in the region.
'We are hiring private bankers and product specialists for the entire region, especially growth markets such as China, India, Singapore, Hong Kong, Taiwan and Indonesia,' said Mark Morgan, global head of human resources at Citi Private Bank.
The private bank has about 800 relationship managers and product specialists in Asia-Pacific.
'Asia's wealth creation is expected to grow at 14 per cent per annum over the next few years, and we expect to expand headcount to take advantage of that growth,' Mr Morgan said.
Citi has restarted hiring after a bruising year in which it split into two and sold billions of dollars of assets as part of an agreement with the US government, which owns a 27 per cent stake in the bank.
Chief financial officer John Gerspach said last month the bank had already begun to make new investments in Asia and Latin America, the two regions it is looking at for most of its growth in the next few years.
The group cut its headcount substantially during the financial crisis. At the end of last year it had 265,000 staff worldwide, compared with 323,000 a year earlier and 375,000 at end-2007.
It made a narrower net loss of US$1.6 billion last year, compared with a US$27.7 billion loss in 2008, though its operations in Asia remained profitable.
Last year, Asia-Pacific contributed about US$4.5 billion, or some 30 per cent, of net income and almost US$14 billion, or 23 per cent, of revenue at Citicorp, the main operating unit of Citi which contains its core retail, commercial and investment banking operations, as well as its global transaction services business.
</TD></TR></TBODY></TABLE>
