(MENAFN) Citigroup wants to hire up to 20 bankers in Saudi Arabia, where it plans to officially begin operations in the first quarter after obtaining an investment banking license in the kingdom, according to a senior executive.
Through privatizations and by encouraging more savings by the population, Saudi Arabia's economic reform program would create investment banking opportunities, Carmen Haddad, chief executive officer of Citi Saudi Arabia, said.
As a move to enable Citigroup to return to the kingdom to offer banking service after an absence of around 13 years, the bank acquired a license in April to conduct capital markets business in Saudi Arabia.
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