Citigroup Research Staff To Grow 10 Percent

Citigroup plans to hire about 35 research analysts this year as it expands into Brazil, Russian and other emerging markets.

The expansion is part of Citigroup's strategy to gain more market share and become the world's largest research firm. It now is among the top three. The bank plans to increase its 350-person research staff by 10 percent during the second half of 2006, reports Financial News, on top of the 20 staff it has already added in Asia.

The new jobs will go to the bank's new markets, including Russia, Brazil and Dubai, as well as existing markets such as South Korea and India.

Meanwhile, The Wall Street Journal reports Citigroup has hired senior bankers from Deutsche Bank - Mickey Bhatia and Michael Jinn - to boost its efforts in the market for European credit derivatives. Bhatia joins as head of global credit correlation trading, one of the latest credit products to be launched. Jinn becomes head of structured illiquid trading. Both will be based in London.