| Log In | Register Now
August 31, 2010 8:08 PM EDT
Citigroup Inc
Citigroup, which has 4,500 employees in China, will hire more in that country that in any other Asia-Pacific market, according to Bloomberg's interview with Stephen Baird, Citigroup's co-chief executive officer for the region.
The hiring plans will support Citigroup's efforts to expand in the region and compete with HSBC Holdings PLC
Baird told Reuters last week that Citigroup planned to open two branches a month on average in China for the foreseeable future, the maximum allowed by regulators.
Like us on Facebook
The company's strategy "is progressively more weighted to emerging markets," Baird told Reuters. "Greater China is the future.
Citigroup plans to double its number of branches in Hong Kong to 50 by the end of the year and increase the number of branches on the mainland to 38 by the end of the year, from 29 currently.
A Citigroup spokesman did not immediately respond to a request for comment on Tuesday. The company's shares were trading up less than one percent, at $3.70, by mid-afternoon.
(Reporting by Maria Aspan, editing by Leslie Gevirtz)
Diet Soda: Research Sparks Debate on Risks of Heart Disease, StrokePut down your diet soda and listen up. The bubbly zero calorie drink may increase your risk of heart disease, according to new research.
First Photos of Beyonce’s Baby Blue Ivy Carter Reignite Surrogacy Rumors [PHOTOS]The first photos of Beyonce's baby Blue Ivy Carter were released to the world on Friday by Beyonce and husband Jay-Z. The couple posted five photos one the Tumblr page "Hello Blue Ivy Carter.
Is Kim Jong-un Dead?Rumors of Kim Jong-un's death hit Weibo on Friday
We value your privacy. Your email address will not be shared.
MF Global trustee sees $1.6 billion claims gap
