Finance
Citigroup Moves Some Staff Out of Lebanon as Fighting Escalates
- Handful of employees moved to Turkey amid Israeli strikes
- The US bank’s presence in Lebanon dates back to the 1950s
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Citigroup Inc., the only major US lender with a significant presence in Lebanon, has moved a handful of its staff there to Turkey as violence escalates in the region, according to a person familiar with the matter.
The shift leaves more than 20 bank employees in Lebanon, and Citigroup, which is known for its expansive global reach into even tumultuous markets, continues to service clients there as usual, another person said, asking not to be identified discussing sensitive topics.