Citi Private Bank to Ramp Up Hiring in the Middle East
In an effort to capitalize on the wealth boom in the Middle East, Citi will look to accelerate its recruitment efforts in the region.
Citi is aiming to recruit private bankers in the Middle East, according to a «Bloomberg» report, including those who cover the Dubai, Saudi Arabia and Abu Dhabi markets. In April, it already appointed Carmen Haddad as vice chair for the region.
«We are in growth mode, but going to be hiring in a disciplined way. And the Middle East is a great place for us to start,» said James Holder who heads the American private bank’s Middle East, UK and Europe operations. «I could make a case to invest everywhere, but the reality is we have to be focused about how we deploy.»
Citi joins a raft of other global banks that are tapping the Middle East’s wealth creation story. UBS, for example, announced in May that it would open a new office in Abu Dhabi. Manulife also recently launched a new office in Dubai to focus on providing insurance solutions to high net worth and ultra-high net worth individuals.
