Jane Fraser’s first big strategic call in April after taking over as Citi’s chief executive was to exit retail banking in 13 Asian and EMEA markets, including China and India.
Her second, announced on May 13, was to double down on wealth management in Asia, the regional focus of attention for global lenders and institutional and wealthy private investors, now and for decades to come.
Citi said it would add 2,300 staff to its Asia wealth franchise by 2025, including more than 1,110 relationship managers (RMs) and private bankers.
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