MS - Citi Reportedly Plans To Launch Wholly Owned China Unit Amid Economic Slowdown: Is The Risk Worth It? | Benzinga
Citigroup, Inc. (NYSE: C) reportedly plans to launch its fully-owned China investment banking unit by the close of this year and aims to recruit approximately 30 individuals for the venture.
The bank may expand staffing in the unit threefold, concentrating on the domestic capital market, Reuters reported, citing people aware of the matter.
The team is expected to grow to nearly 100 in the coming years, with a combination of local hires and transfers from Hong Kong and other markets.
The Chinese securities regulator granted approval to the U.S. bank for establishing ...