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Citi plans 900 hires for commercial bank over next three years -Breaking


© Reuters. FILEPHOTO: This is a view of Citibank’s corporate headquarters in New York. It was taken on May 20, 2015. REUTERS/Mike Segar/File Photo

(Reuters) – Citigroup Inc (NYSE) announced Monday that its Citi Commercial Bank (CCB), will employ 900 people, 400 of which are commercial bankers. This is in an effort to accelerate its growth.

According to the U.S. bank, in addition to expanding digital capabilities and launching new markets, the Commercial Bank will also be looking at increasing its presence in emerging and high-growth markets.

The bank has operations in 60 countries, and is a specialist in lending to medium-sized enterprises.

It comes as the Wall Street institution is trying to reduce its global footprint and exit non-core markets. Jane Fraser, the chief executive, took over last year. She has sought to streamline the bank’s operations and increase its profitability in comparison with peers.

Citigroup announced earlier this year that it would be closing its Citibanamex consumer bank business in Mexico. It also announced plans to sell the Taiwan retail division.

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