Citi opened a Singapore branch for prime brokerage in April, adding to its hedge fund servicing capabilities in the region. The firm has had a prime brokerage office in Hong Kong for two years, and opened a hedge fund administration business in Singapore in October 2006. "There are a growing number of global hedge funds moving into Singapore, as well as a number of start-ups, so we felt it important to have people on the ground there in addition to being in Hong Kong," says Hannah Goodwin, Citi’s head of prime brokerage for Asia-Pacific. At present there are just two employees in Singapore but Goodwin says the intention is to increase the staffing level. Citigroup has 19 people in its prime brokerage division...
