The News: Here's Where Citi's Looking to do Some Selective Hiring
At the same time Citigroup sells off chunks of its "bad bank" Citi Holdings, it is selectively hiring for businesses that remain with its core Citicorp division. Job growth will likely concentrate in four areas: services for high-income U.S. consumers; emerging market retail banking; cash management; and equities and commodities within Citi's investment bank.
That's the key takeaway from recent remarks by Citigroup Chief Executive Vikram Pandit in a Financial Times interview and an investor presentation Thursday.
The "landmark" product for Citi's international consumer business is a premium account called CitiGold for affluent customers, Pandit told the FT. Meanwhile, Citi is refocusing its U.S. retail bank on higher-income clients and premium services.
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