Jun 06, 2013
June 4th 2013 - Citi, Asia’s leading global bank for institutional and retail clients, plans to open six more Asian desks in the next 12 months to serve Asian corporate clients across the world.
The desks will compliment the 13 already opened by the bank that are servicing Asia’s leading corporate clients. The new desks to be opened include four China desks – in Africa, Latin America, Russia and South East Asia and two Korean desks - in South East Asia and Latin America. The desks will support Citi’s Chinese and Korean multi-national clients across corporate banking, investment banking, local debt raising, foreign exchange, cash management and trade finance.
From these desks Citi services leading Chinese and Korean companies, working closely with the local country teams in Citi’s network of over 100 countries. Clients covered include the likes of Samsung and Lenovo, which are banked by Citi in over 60 countries. The desks will be staffed by a combination of local employees and senior staff from China and Korea with existing relationships with key clients.
“Our clients are increasingly growing globally and our priority is to ensure they are using Citi’s global network and local knowledge as they expand and transact business across the world. The desk strategy has been successful in deepening the relationships with Asian multi-national clients and this expansion underlines our commitment to serve our clients further,” said Farhan Faruqui, Head of Corporate and Investment Banking for Asia Pacific.
Citi currently has seven China desks and six Korean desks. The China desks are in London, New York, Algiers, Dubai, Johannesburg, Singapore and Hong Kong. The Korea desks are in New York, Bratislava, Moscow, Beijing, Chennai and Shanghai.
Re-disseminated by The Asian Banker