The sleeping giant awakens

Citigroup makes its prime brokerage push in Asia.

Citigroup's Asian prime brokerage division is beefing up. The group says it is committed to devoting the necessary resources and capital to position itself as a lead player in the lucrative market of servicing hedge funds.

Historically, Citi has not had much of a prime brokerage presence in the region. Operations have been limited to Japan, where the firm's Nikko-Citigroup joint venture has a Tokyo-based team, currently led by William Jensen.

Citi's ambitions to become a significant Asia wide player took shape earlier this year, with the hiring of Hannah Goodwin from Deutsche Bank to lead the Asia ex-Japan PB team in Hong Kong. Goodwin is a...

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