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Citi names its new Asia Pacific CEO six months after the departure of the former regional chief. Peter Babej has been named as chief executive officer of Asia Pacific, succeeding Francisco Aristeguieta who left in April and was replaced in the interim by Tim…
Citigroup, which earlier announced its decision to dissolve its investment-banking joint venture in China, is now setting up a wholly-owned securities business in the world’s second-largest economy. The New York-based bank may initially focus on brokerage and…
The financial services company Citi has partnered with Lazada Group to launch the Lazada Citi credit card in Southeast Asia. Offering 10 times more rewards on Lazada purchases and Lazada Wallet top-ups, Citi and Lazada aim to reach more than 500,000 signups…
Global banks continue to feel the pinch from slowed trading with Citi joining its peers to lighten their trading operations with hundreds of related jobs expected to be axed in 2019. The American lender is expected to slash jobs according to multiple media…
Citi hires J.P. Morgan Asset Management’s former Americas head of trading to run its Asia Pacific execution business. Curt Engler has been named as Citi’s Asia Pacific (APAC) Head of Execution Services. A key focus under his leadership will be to ensure…
Citi has closed hundreds of branches in Asia in recent years, shrinking its network from 600 to roughly 250, according to «Reuters.» Despite downsizing its physical network, Citi is benefitting from the increasing shift towards digital banking among retail…
Citibank Singapore announced that it is the first bank in Singapore to introduce instant in-principle approval for debt consolidation plans. Customers applying online for Citibank Singapore’s debt consolidation plan will receive an immediate indication of…
New entrants and increased competition brought about by challenger banks could result in revenue losses of up to 30 percent among legacy banks over the next 10 years. While digitalization can lower costs for incumbent banks by 30 to 50 percent, new…
Citi Private Bank appointed Sally Yeh as global market manager for Taiwan, who joins immediately. She joins the American bank from UBS, where she most recently led a team of offshore bankers working with entrepreneurs from Taiwan. She will be responsible for…
Citi today announced its first API partnership in Hong Kong through the launch of Citi Pay with Points on HKTVmall, the 24-hour online shopping mall operated by Hong Kong Television Network Limited. The new service enables cardholders of Citi points-bearing…
Citi has announced that mobile banking has become the preferred channel for its consumer clients in Asia Pacific. The bank said that during 2017 mobile banking overtook other digital channels to become the preferred channel used by Citi’s Asia Pacific…
Citi has beta launched a banking chatbot on Facebook Messenger that is capable of providing customer account information to users. Dubbed Citi Bot, the chatbot will make its debut in the Singapore market and be progressively introduced to the wider Asia…
Global Finance Magazine has announced its best digital banks in Asia, and Citi dominated the awards with multiple wins across the region. For the 11th consecutive year, Citi Philippines was awarded Best Digital Bank for the Corporate/Institutional Bank…
Citi India has launched new digital cross-border payment solution designed to eliminate the need for multiple, underlying physical documents for cross-border trade payments. The solution aims to substantially reduces time, effort and cost of each transaction…
Citibank and Visa are partnering up to launch a B2B platform for companies in Singapore aimed at streamlining complex business purchasing processes. Reports Friday said the companies are rolling out an eProcurement platform, Renepay, based on a reverse…
Citi has launched MobilePASS, an app-based soft token that enables corporate banking clients to use their own smartphones to generate dynamic passcodes to log into Citi’s institutional e-banking platforms. In Asia, MobilePASS is now available in Bangladesh,…
