Citi launches second China desk in Singapore

Ten relationship and product managers will support Chinese clients’ FDI.

Citi expands its China Desk global network with the launch of a second desk in Singapore, aiming to support its Chinese clients using the island-state as the launch-pad to grow their presence in ASEAN on the back of investment trends led by the Belt and Road Initiative (BRI).

China’s FDI into ASEAN has grown to over US$ 9 Billion in 2016 from US$ 6.5 Billion in 2015.

The new desk comprises 10 relationship and product managers that are equipped to provide Chinese clients banking solutions such as in the areas of cash management, trade financing, hedging, FX solutions, and advisory services related to mergers and acquisitions, debt and equity offerings, and the understanding of local operating and regulatory environments as they grow their presence in new markets across the region.

Citi’s first Singapore-based China Desk was launched in 2010 to serve Chinese clients investing into the country. Citi now has eight other China Desks outside of the two in Singapore including Hong Kong, London, New York, Dubai, Johannesburg, Sao Paulo, Kazakhstan and Kenya.

Citi supports clients across 58 of the 65 BRI countries (with a physical presence in 32), which positions Citi with the largest coverage across the BRI countries, the most of any bank globally.