Earlier this month, Citi announced the names of the 153 people it's promoted to managing director.
Now the bank has provided us with further details about its 44 new MDs in Asia: 34 of them work in various units within the institutional client group (ICG), four are in global consumer banking (GCB), and six are in global finance (GF).
The Asian cohort for ICG makes up 22% of the global ICG total. Citi also made 22% of revenues from Asia in the third quarter, a higher proportion than any of its US rivals.
Of the Asian MDs, 14 (32%) are based in Hong Kong and 13 (30%) are in Singapore. Across the region, the group is 30% female, which is a 50% rise in two years, says a spokesperson for Citi.
Within ICG, markets and securities services (MSS) and banking, capital markets and advisory (BCMA) are Citi’s two largest contributors to its 2020 Asian MD list. This reflects a “record year for the bank in Asia across equity capital raising and the flow businesses”, says the spokesperson.
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