citi-reorganises-china-wealth-business

Citi reorganises China wealth business

Citi will provide private banking services under the umbrella of its consumer banking arm.
Citi is reorganising its private banking business in China, and while it will continue to offer private banking services, it will be under the umbrella of its consumer banking arm.

Citi remains entirely committed to the private banking space in China, and we will continue to invest in it, a spokesman said in a statement yesterday. Any speculation that we are halting our business in this area is untrue. We continue to provide our clients with superior service as we look to expanding our wealth management offering in China.

Citi officials confirmed that a small number of employees at the three-year-old private banking unit will be affected by the move, although no jobs will be...
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