Citi Commercial Bank (CCB) – which serves mid-sized companies in over 60 countries – has plans to hire 900 people, including over 400 commercial bankers, in the next three years as the business seeks to fast-track growth. The commercial bank will achieve scale by increasing headcount in developed markets and large emerging markets and leveraging existing institutional infrastructure, says a company release.
“Citi Commercial Bank anticipates that the financial needs of this critical client segment will evolve, requiring the sophisticated banking solutions..” says the release. The bank is therefore investing heavily in this segment, with the bulk of hires to be concentrated in areas poised to see an acceleration in business activity: the United States, China, Brazil, India and countries in Western Europe to start.
“In today’s interconnected world, mid-sized companies quickly outgrow the capabilities of a local or even a regional bank. They are going global faster and reaching scale sooner than ever before,” comments Tasnim Ghiawadwala, Global Head, Citi Commercial Bank.
In addition to launching into new markets and expanding its digital capabilities, the commercial bank is focused on deepening penetration in emerging, high growth disruptor sectors through recruiting industry expert senior bankers and enhancing training and development for existing bankers.
“CCB will focus on deepening client relationships through investment in our bankers and digital channels and by providing multiple client touchpoints into the rest of Citi. My priority is to unleash the power of Citi to this client set with market share gains to follow,” Ghiawadwala continued.