Citi launches new China desk in Singapore

It aims to serve as a gateway to ASEAN.

Citi has announced the launching of its Singapore-based desk, which will serve as an expansion of its China Desk global network.

According to a press release, Citi will use the said desk as a launch-pad to increase their presence in ASEAN. On a year on year basis, China’s FDI into Asean rose from $6.5b in 2015 to $9b in 2016.

The new desk in Singapore comprises 10 relationship and product managers. These specialists are equipped to provide Chinese clients the full suite of 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 China desk in Singapore was launched in 2010.