Citibank will expand its Asian prime brokerage workforce by 10% this year.

Citi Group plans to expand its Asia-Pacific main brokerage business team by about 10% this year, aiming to further capture market share from hedge funds in the Asia-Pacific region. Citi's market head in the Asia-Pacific southern region, Li Su, stated that the expansion will focus on Singapore and India, with the bank recruiting talent for front-office business and technical positions to strengthen its global business platform layout. This Asia-Pacific business expansion aligns with Citi's global strategic goal of increasing its main brokerage business scale from $450 billion in 2025 to over $700 billion by 2028. While Citi has long had an advantage in interest rates and fixed income areas, its stock business has been lagging behind its Wall Street peers, and the bank is currently working to narrow this gap. Citi's main brokerage business mainly provides funding and securities lending services to hedge funds to facilitate their trading activities.