Citi lasers in on Singapore as it exits 13 retail markets; Republic is a key booking centre for offshore flows that speak to the wealth creation in Asia
SINGAPORE is set to rise in importance for Citi in the region as the banking giant exits its consumer business in several markets across Asia.
With the city-state now one of four wealth hubs for the bank, Citi will hire up to 1,500 staff for its consumer wealth businesses here to support plans to triple assets under management by 2025, said a top executive.
As it is, last December the bank opened in Singapore its largest wealth advisory hub globally. That hub now serv...