Citigroup out to tap emerging markets growth: CEO

SAO PAULO: Citigroup, the third-largest US bank, is focused on tapping emerging markets to take advantage of growth in in trade and capital flows, Chief Executive Vikram Pandit said on Wednesday.

"Trade and capital flows between emerging markets are growing exponentially and we want to grow there ... We look forward to Brazil's growth," Pandit told a small group of reporters at the bank's Brazil headquarters in Sao Paulo.

"The question is how fast Brazil can take advantage of all growth opportunities."

Citigroup has doubled its Brazil payroll in the past five years to 7,000 people, Pandit added.