Citigroup will hire for Commercial Banking unit in Asia Pacific

Citigroup Inc. will hire 900 staff for its commercial banking unit over the next three years, a part of which will be for the US bank’s Asia Pacific business as it plans to fast track growth.

In addition to entering new markets and expanding their digital capabilities, US lenders said on Monday that the Citi Commercial Bank (CCB) unit intends to expand its presence in high-growth and emerging markets.

With operations in 60 countries and a focus on lending to midsize businesses, a bulk of hires are expected to be in with increased business activity, especially in the United States of America, China, Brazil, India and other countries in Western Europe.

Citigroup has also said in a separate statement that it would hire close to 350 people, including nearly 200 commercial bankers over the next three years to accelerate its growth in the Asia Pacific, as a part of its global headcount expansion plan. It also claimed that hiring represents the largest investment in headcount across the bank globally.

A majority of those hires will be located in China, Hong Kong, India and Singapore. China and India will get around 80 new hires. Hong Kong will upload near 100 people, at the same time as some others over 30 will visit Singapore.

Earlier, Citigroup also said that the company will exit the Citibanamex consumer banking business in Mexico and also announced a deal to sell its retail unit in Taiwan.