Business
Citigroup Bolsters Hong Kong Team to Support Chinese Companies’ Global Expansion: A Strategic Focus on Mid-Sized Companies
Citigroup enhances its Hong Kong squad to aid the global growth of companies from mainland China. The Wall Street bank intensifies its advisory services team, aiming at medium-sized businesses with tailored banking services.
Citi Commercial Bank in the United States is strategically recruiting, particularly in the advisory services sector, while simultaneously training current bankers to concentrate on selected industries, according to the Hong Kong head of the bank, Joy Cheng.
"Cheng, who took on the position in February, emphasized that they ensure their team is equipped with specific knowledge and comprehensive market insights. In addition, they are actively recruiting individuals with a background in corporate finance to collaborate with their investment bank."
The bank's plan to connect with mid-sized businesses – those generating sales between $10 million and $3 billion – hinges on this level of proficiency. It involves addressing their requirements like treasury management, trade finance, capital generation, launching their first public offerings, and facilitating mergers and acquisitions (M&A).
"Our aim is to provide banking products and services to medium-sized businesses seeking assistance with their international or global growth strategies or their strategic development goals," stated Cheng. "The availability of our comprehensive product platforms, along with advice and assistance from our investment bank, sets us apart from a lot of our competitors."
According to information gathered by Dealogic, Citigroup ranked in the top five banks worldwide for investment banking revenue in the first three quarters of this year.
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