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Two of Singapore’s «big three» lenders are said to be interested in acquiring parts of Citi’s consumer business, which is downsizing worldwide. DBS Group, OCBC, Mitsubishi UFJ Financial Group (MUFG) and Standard Chartered intend to bid parts of the bank’s…
America’s Citigroup will exit 13 international consumer banking markets, including Vietnam, to shift its focus to four wealth centers. The move is part of the bank’s strategic decision to direct investments and resources to businesses with the greatest scale…
Citi unveiled its hiring plans for its wealth management business in Hong Kong – one of the few remaining markets the bank will place its renewed focus on after announcing a series of planned exits. Citi will look to hire up to 500 people in its Hong Kong…
Citi made a raft of new appointments to its wealth management unit including the promotion of its Asia head of private banking. Citi named Steven Lo co-head of the wealth unit in the region alongside APAC head of retail banking Fabio Fontainha, according to…
Citi appoints a senior corporate banker for China, amid growing expansion in the mainland market. Luke Lu has been named head of corporates coverage for China, reporting to Citibank China CEO Christine Lam and APAC head of corporate banking Kaleem Rizvi. A…
He takes over from Gonzalo Luchetti, who was named U.S. consumer banking head, as reported in January. Citi has named Kartik Mani as its new consumer banking head for Asia, according to an internal memo Mani will report to Anand Selva, global consumer bank…
Citi Private Bank loses several within its mainland China coverage team, including a veteran relationship manager. Citi Private Bank’s global market manager for southern mainland China, Kevin King, has resigned from the bank, sources said. In addition,…
The Citi Plusdigital wealth platform was officially rolled out on Monday in Hong Kong, following a pilot launch in December 2020. Catered to digital natives, Citi Plus offers personalized wealth management information and knowledge kits for clients and…
Citigroup is exploring the possibility of downsizing its consumer business worldwide with an eye on selling some of its businesses in the Asia Pacific region. Consumer banking units in South Korea, Thailand, the Philippines and Australia were named for…
Citi’s Hong Kong businesses registered growth across the board, according to an internal memo seen, despite a more than 40 percent drop in profit for the overall group. Citi Hong Kong’s consumer business saw a 44 percent increase in net new money inflows with…
Citi in Asia Pacific posted record-high net new money of $20 billion across its wealth management business in the region. This represents a 10 percent year-on-year increase, according to a statement from the bank, and pushes total assets under management…
Citibank Singapore is set to see a vitalized drive towards expansion as the American lender shared major targets on hiring, assets and clients following the launch of its new wealth hub in Orchard. Citi will look to double its assets – currently with $280…
Citi will look to realize the promises of financial inclusion with its new digital-only proposition in Hong Kong which can be accessed with as little as HK$1. And at HK$100, users can even find tailor-made fund portfolios based on investor needs, according to…
Citi has promoted its private banking head of operations and technology in Asia Pacific to an even larger role covering the same area for the broader group. Stacey N. Lacy has been named as APAC head of operations and technology for Citi, effective…
Citi’s treasury and trade solutions unit promotes its former head of trade finance for Asia Pacific to lead the region’s trade unit. Citi Treasury and Trade Solutions (TTS) appoints Kanika Thakur as its Asia Pacific trade head, effective immediately,…
U.K.-based enterprise data management company Solidatus said it will accelerate its growth plans in the region, following a strategic investment by Citi. Citi, the first major investor in the startup, will also implement the Solidatus platform internally at a…
