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April 29, 2021

Banking jobs weekly snapshot: jobs swing back up as Citi looks to China

By Hannah Wright

There were 33,460 jobs posted in the period from 18 April 2021 to 24 April 2021 according to the GlobalData job analytics tool. This represents a 5.56% increase from the previous weeks total of 31,699 positions.

Citigroup rose to the top spot with 1664 jobs posted, up 143 jobs from last week. In second place was Banamex with 1514 jobs posted, followed by JP Morgan and Wells Fargo with 1504 and 1432 roles, respectively.

Citigroup hit the headlines this week when it decided to pull the plugs on retail banking in China, in order to set up investment banking and trading operations in the country.

The American lender is planning to apply for a securities licence to underwrite yuan-denominated shares and facilitate trading for clients within the next two months, Bloomberg reported citing an unnamed source.

Citi, which is also eyeing a license for futures brokering, is planning to launch operations in the next 12 to 18 months. It is expected to name the CEO for the business soon and hire a team of 50 staffs, with plans to expand it to nearly 100 in the future.

The majority of the new hires will be external, but the bank will also transfer employees from other mainland businesses to bridge the gap.

JP Morgan also made the news after former co-CEO of JP Morgan Asset Management, Christopher Wilcox, was poached Japanese investment bank Nomura as the new president and CEO of Nomura Securities International and Nomura Global Financial Products.

The company has also named Willcox as co-CEO of Nomura Holding America and senior managing director for his respective US capacities.

Before joining JP Morgan, Willcox worked with Citigroup, where he held several positions over a 15-year period.

Overall, the highest number of jobs posted was in North America with 17,120. Asia Pacific was in second with 7972, followed by Europe with 6743. Middle East and Africa posted 875 roles while South and Central America posted 750.

Globally, most jobs were junior level with 16,443 postings. This was followed by 7883 mid-level roles, 7184 entry level roles and 1950 senior positions.

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