SHIFT · APAC
Citi plans significant hiring in Asia wealth business, bucking broader bank cost cuts
Citi's global wealth head announced 'significant' new hires in Asia wealth management, signalling a regional growth bet despite broader bank cost discipline and AI-driven layoffs elsewhere.
WHY IT MATTERS
Selective hiring in high-ROI Asia wealth unit; mirrors JPMorgan/UBS focus on APAC. Signals bifurcated strategy: AI cuts in back-office, headcount growth in revenue pools.
Source: Reuters · 2026-05-22