Citi to ramp up commercial banking services in Asia-Pacific

|By:, SA News Editor

Citigroup (NYSE:C) is planning to hire another 100 bankers to ramp up its commercial banking services in the Asia-Pacific region.

The bank's new strategy will focus on small to medium-sized clients following the decline in business from high-value IPOs of Chinese state-owned companies.

Citi will target firms with annual sales of between $10M and $500M with a wider range of financial products including services such as foreign exchange and cash management.