Citigroup to Expand Asia Wealth Unit with New Hires
Citigroup global wealth head Andy Sieg announced plans to focus a significant portion of the bank's 500 new hires in Asia. The move follows a 50% rise in wealth unit net income during 2025 as the bank targets returns on tangible common equity of up to 20% by 2028.
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Citigroup Inc will concentrate its global wealth management hiring in Asia to capitalize on the region's high productivity and rapid growth. The United States bank plans to add 100 private bankers and 400 specialists globally. Asia currently generates 35% of Citigroup's global wealth revenue, totaling $3 billion in 2025.
