Citi’s Ex-China Chief Economist Exiting as Bank Cuts Jobs
- Citi plans to eliminate 20,000 roles globally to boost returns
- Bank has initiated a broad restructuring, cut down retail bank
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Citigroup Inc.’s head of Asia-Pacific economic analysis at its wealth unit and former chief China economist Liu Li-gang are leaving as the US bank embarks on a fresh round of global job cuts amid a sweeping reorganization, according to people familiar with the matter.
Rob Hoffman, head of investment counselors for South Asia at the wealth unit, is also among those exiting, the people said, asking not to be identified discussing an internal matter. Matthew Read, who was appointed last year as Singapore retail banking head, is departing too, they said.