Citi (C) Plans to Grow Asia Wealth Business From Hong Kong Base
Citi(C) Zacks Investment Research·2024-03-06 15:45
Citigroup Inc.’s (C) head of global wealth, Andy Sieg, has announced that the company plans to expand its wealth management business in the Greater Bay Area and the rest of Asia from its base in Hong Kong. The move is part of Citi’s plan to tap into the growing wealth in Asia, particularly leveraging Hong Kong’s financial hub status.Despite Citi’s plan to sell its mainland China wealth business to HSBC Holdings plc, it remains committed to Hong Kong and China.Though Citi will exit its consumer wealth busine ...