Citigroup Inc. attracted close to $15 billion in net new money across its Asia Pacific wealth management business in the first six months of 2021, as hundreds of new hires helped the lender mark one of its strongest half years on record for the unit.
The U.S. bank added $8 billion in the second quarter, with assets under management up 21% during the first half from a year earlier, according to a statement on Thursday. Citi added several hundred wealth professionals in Hong Kong and Singapore this year, part of its plan to hire 2,300 staff in the Asia Pacific region to grow client assets by $150 billion by 2025.
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July 29, 2021 at 01:11PM
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Citi Sees $15 Billion Asia Wealth Inflow After Hiring Hundreds - Bloomberg
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