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Citi Speeds Push to Add 700 Private Bankers With Europe Outposts

Citigroup headquarters in New York, U.S.

Citigroup headquarters in New York, U.S.

Photographer: Victor J. Blue/Bloomberg

Citigroup Inc. is ramping up efforts to add 700 private bankers in coming years with the opening this week of two new private-banking offices in Paris and Frankfurt.

The New York-based bank has begun relocating staff from its Luxembourg bureau to the new locations, which will be housed at existing offices in the two cities. Citigroup will increase headcount at both offices in coming months.