DigitalCFO Newsroom | 30 March 2022
Bank launches Overseas Singaporean Network to deepen engagement with locals working for Citi abroad.
Citi Singapore marked the start of its 120th anniversary celebrations today with the launch of its Overseas Singaporean Network, to signal its fresh commitment to developing local talent. This network is a special initiative to facilitate two-way dialogue with the bank’s Singaporean staff based abroad, keeping them abreast of the latest developments with the home franchise and giving Citi Singapore employees the opportunity to hear about their overseas experience.
This programme ties in with Citi’s ongoing efforts to nurture a strong Singapore Core and build awareness of the home franchise through regular communication and relevant initiatives among its close to 150 such staff across 18 markets, including in key cities such as New York, London and Hong Kong. Planned outreach include regular engagement events, such as fireside chats with prominent leaders and in-country lunch and coffee sessions with senior management.
The Network is led by an internal Singapore Core Leadership Council, which comprises members of senior management and was established in early 2021, to help steer this focus area in recruitment, retention and development.
ASEAN Head and Citi Country Officer for Singapore Amol Gupte said: “The financial sector in Singapore today has many leaders who have begun their careers at Citi. That’s why we are starting our 120th anniversary celebrations by reaffirming our commitment to developing Singaporean talent and keeping them engaged with their home country at the same time.”
The bank believes that developing Singapore’s talent and supporting the local community is of paramount importance to its long-term success. More than 80 per cent of Citi Singapore’s full-time employees are Singaporeans or permanent residents, and each of them has access to a robust talent development programme , including one which provides leadership pipeline for senior roles in ASEAN as well as various initiatives to build up more women leaders. Citi Singapore provides employment to about 8,500 people including some 2,000 contract staff. Many Singaporeans who have had overseas postings have gone on to take up leadership roles abroad or in Singapore, such as Gary Chan, Taiwan Head of Integrated Corporate Bank, Chan San-San, Private Banking High Net Worth Head for Asia Pacific, and Gilbert Ng, Singapore Head of Integrated Corporate Bank.
Today’s announcement was made during a leadership series event with Monetary Authority of Singapore Managing Director Ravi Menon and Citi’s Asia Pacific Chief Executive Officer Peter Babej. Topics discussed at the hour-long hybrid event, which was moderated by Mr Gupte, included trends impacting the global financial sector, the future of banking and Singapore’s role as a global financial hub. In all, more than 700 staff, including Citi’s overseas Singaporean employees, joined the session.
Citi’s Asia Pacific CEO Peter Babej reaffirmed the bank’s commitment to the island nation: “Singapore is one of Citi’s leading global hubs where we have supported local communities and clients for 120 years and where we are investing further. We continue to develop local talent to support our growth and this new initiative will better connect locals and expat Singaporeans who work across our global network.”
Citi’s presence in Singapore began in 1902 under the International Banking Corporation at 1 Prince Street and it was the first American bank to set up a branch here, specialising in trade financing . Today, Singapore is Citi’s strategic business, operational and technology hub serving its global businesses.
Citi Singapore joins its regional counterparts in China, Hong Kong, India, Japan, and the Philippines in reaching the special milestone this year.
Other 120th anniversary activities in Singapore include client events, community volunteering activities as well as a month-long staff appreciation event later in the year.