Citigroup ramps up Asean banking team

Plans for additional China desks in Europe and Africa are being finalised, Keefe said

SINGAPORE: Citigroup Inc said it has hired about 30 bankers over the past year across its banking, capital markets and advisory teams in the 10-member Association of South-East Asian Nations (Asean), spurred by robust growth in its Asean banking business.

Countries in the bloc such as Vietnam and Thailand are benefiting from the ongoing Sino-US trade war as companies start to shift supply chains to South-East Asia to escape tit-for-tat tariffs that the world’s two biggest economies are imposing on each other’s goods and services.