Andy Sieg, head of Citigroup's wealth management division, stated plans to increase hiring in Hong Kong, bullish on Hong Kong and its connection with the Greater Bay Area.
He mentioned that Citigroup's investment business in Hong Kong has grown by nearly 20% annually. The group will selectively hire talent, with these individuals stationed in Hong Kong to provide broader services in the region, but refused to disclose the number of new hires.
Citigroup previously withdrew its retail banking business from markets such as China, India, Thailand, and the Philippines. Sieg stated that he is not worried about Citigroup losing customer channels, as although the business scope is narrower, the depth has increased, and the retail banking business in Hong Kong is also flourishing.
