HONG KONG – Citigroup has set a target to hire 1,000 wealth professionals in Hong Kong in the next five years, as it seeks to grow its Asian client assets under management by US$150 billion following a record year, a statement from the US bank said.
The headcount target will include 550 new private bankers and relationship managers by 2025
The recruitment campaign has already started, with 75 private bankers and relationship managers hired so far in 2021 to build on the US$310 billion Asian assets under management to date.
The headcount target will include 550 new private bankers and relationship managers by 2025, according to the statement.
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Citi in the region recorded over US$20 billion in net money inflows marking a record year for the bank in 2020, it said.
In the first quarter of 2021, Citi added more than US$5 billion more in net new money.
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Citi Hong Kong Chief Executive Angel Ng said the bank would target the “traditional retail wealth but also growing entrepreneurial wealth” emerging in Hong Kong.