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Citi S’pore workforce shrinks after restructuring; bank says city state remains a key hub
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Singapore remains one of Citi’s largest operations, says country officer Tibor Pandi, and is looking to hire more staff for its growing wealth business, as well as commercial bankers to cater to firms expanding in the region.
ST PHOTO: GIN TAY
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SINGAPORE – Citi Singapore’s workforce has shrunk by about 500 people, following the US lender’s sweeping global restructuring that it says promotes faster decision-making and will thus help it better capture wealth and trade flows between Singapore and the region.
Said a Citi spokesperson on July 8: “Overall headcount numbers fluctuate due to various factors including natural attrition and changes to contract and non-employee resourcing needs.”
