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Citi Private Bank to remain unaffected by Citigroup job cull: spokesperson

A Hong Kong-based spokesperson for Citi Private Bank has told Asian Private Banker that the private bank will not be affected by Citigroup chief executive officer, Michael Corbat’s decision to slash 11,000 jobs worldwide. Corbat’s mission to cut US$900 million in costs stems from his identification of “areas and products where [Citi’s] scale does not provide for meaningful returns”. The…

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