Citi today announced a significant expansion of its North Asia and Japan corporate banking desk network, increasing headcount by 25% and adding dedicated bankers in six locations worldwide. The expansion follows sustained, double-digit growth in client activity across the bank’s current desk network.
- New investment will be directed across South America, Europe and parts of Asia to support strong, client-led activity originating from corporate clients headquartered in Japan, Korea, Mainland China and Taiwan.
- The desks support multinational corporates across the world as they expand outside their home markets, with Banking, Markets and Services products — including financing, foreign exchange and hedging, payments, cash management and trade finance. The desk network is a proven, high-value channel to bridge language and cultural nuances for clients looking to do business in different parts of the world.
“Citi is seeing strong client growth across a number of corridors connecting markets in North Asia and Japan with global markets. These investments underline our commitment to clients to invest further to support their growth and expansion,” said JianXun (JX) Toh, Head of Corporate Banking, Japan, Asia North and Australia (JANA).
Citi also announced the expansion of its dedicated China desk network, with new hubs being added in Brazil and Europe. These complement existing centers in Hong Kong, Singapore, Dubai, London, New York, San Francisco and South Africa.
- The expansion supports the next phase of Chinese corporates’ global growth ambitions — as they move beyond low-cost manufactured exports and cross-border acquisitions to building hi-tech supply chain ecosystems overseas, focusing on AI infrastructure, electric vehicles, consumer electronics, and green energy.
- Chinese companies are increasingly using global banks like Citi to execute foreign exchange hedging, manage trade exposure and support capital expenditure requirements — keeping cross border activity buoyant.
Client activity linked to Central Asia has also doubled over the past six months, driven by more trade and corporate activity between China and the region’s nations. There is also a surge in activity in Southeast Asia, the Middle East and Latin America.
