Citi Eyes China Brokerage Licence
Citigroup expects to secure regulatory approval for its wholly-owned China brokerage business as soon as this month. The bank plans to double its headcount at the unit to around one hundred people by the end of the year to compete with Wall Street rivals.
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CITIGROUP INC expects to secure its wholly-owned brokerage licence in China as soon as this month, targeting an expansion to 100 staff by the end of the year. The move positions the U.S. bank to tap onshore securities trading alongside Wall Street competitors.
