Citigroup plans to allocate a significant portion of its global wealth management hiring to Asia, where its private bank is growing faster and generating higher productivity than in other regions, the bank's global wealth head Andy Sieg said.
The U.S. bank's recently unveiled hiring plans would be "anchored" in Asia along with other regions, said Sieg, who formerly led Merrill Lynch's wealth business and was brought in by Citi CEO Jane Fraser in 2023 to lead a revamp of the wealth unit.
