Citi APAC adds nearly 650 new wealth professionals in 2021 so far

The group has added over $5b in net new money in Q1 alone.

Citi has already hired close to 650 wealth professionals in APAC for 2021 so far, 130 of which are relationship managers (RM) and private bankers (PB).

The hiring is part of plans to add an extra 2,300 wealth staff it announced earlier, which included 1,100 RMs and PBs as part of its goal to push clients assets’ to grow by $150b by 2025.

In a press release, the banking group’s APAC arm said that it added over $5b in net new money in Q1 2021 alone, marking one of the strongest quarters for the bank on record.

The bank boasts being one of the top three wealth managers in APAC, recording over $20b in net new money inflows from the region in 2020, a record for the bank.

“As the world’s most global bank, with broad-based expertise across investment products, we are attracting top talent to join our team. We are strongly positioned and fully committed to serving our clients’ needs.  We are already a wealth management leader in the region, and taking this business to the next level is a strategic priority,” said Peter Babej, Asia Pacific CEO.