Citi will add more bankers in Asia to support clients participating in the Belt and Road coverage.
The additions, which will number at least 25 over the next couple of years, come as the bank is seeing increasing interest from clients across the 58 markets where it banks clients along the Chinese government's ambitious Belt and Road Initiative, including U.S. and Asian multinationals.
The increase will be a combination of new hires and moving existing corporate bankers to support clients Citi said in a press release. The focus will be on areas including corporate and investment banking, capital markets, lending, securities services, advisory, hedging, operations and technology and risk management.
Swiss Invited Too
«The Belt and Road Initiative is the single largest trade and investment initiative that we will see in our lifetimes,» said Gerry Keefe, Corporate Banking head Asia-Pacific at Citi.
The huge BRI infrastructure and commerce plan rolled out by China has stretched as far as Switzerland. Xi Jinping visited the country for four full days in January. An unusually long stay that was not linked to another state visit elsewhere. As pointed out by Switzerland's highest tax diplomat, Joerg Gasser in an interview with finews.asia, Xi also personally invited the Swiss president to the BRI conference.
