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Citigroup plans 500 hires for new wealth unit

The Citigroup Inc (Citi) logo sometimes appears at a conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren/File Photo

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Aug 2 (Reuters) – Citigroup Inc (C.N) is likely to hire 500 employees on the next 3 years for a fresh wealth division, Bloomberg News reported on Tuesday, citing an interview with the segment’s global head. (https://bloom.bg/3SiFxWw)

Naz Vahid told Bloomberg the brand new unit, called Wealth at the job, would focus on junior employees at private equity offices and accounting firms, betting those clients will someday join the ranks of the ultra wealthy and keep maintaining their relationship with Citigroup.

The lender didn’t immediately react to a Reuters obtain comment.

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Reporting by Niket Nishant in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

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