AIRLINK 74.80 Decreased By ▼ -0.36 (-0.48%)
BOP 5.42 Decreased By ▼ -0.03 (-0.55%)
CNERGY 4.32 Decreased By ▼ -0.07 (-1.59%)
DFML 28.90 Increased By ▲ 1.26 (4.56%)
DGKC 77.14 Increased By ▲ 5.14 (7.14%)
FCCL 21.30 Increased By ▲ 1.01 (4.98%)
FFBL 31.55 Increased By ▲ 0.50 (1.61%)
FFL 10.00 Increased By ▲ 0.03 (0.3%)
GGL 10.62 Increased By ▲ 0.35 (3.41%)
HBL 115.35 Increased By ▲ 0.35 (0.3%)
HUBC 131.50 Increased By ▲ 0.05 (0.04%)
HUMNL 6.80 Decreased By ▼ -0.07 (-1.02%)
KEL 4.10 Decreased By ▼ -0.10 (-2.38%)
KOSM 4.77 No Change ▼ 0.00 (0%)
MLCF 39.19 Increased By ▲ 2.11 (5.69%)
OGDC 135.20 Decreased By ▼ -0.25 (-0.18%)
PAEL 23.21 Decreased By ▼ -0.19 (-0.81%)
PIAA 27.45 Increased By ▲ 0.14 (0.51%)
PIBTL 6.63 Increased By ▲ 0.03 (0.45%)
PPL 113.76 Increased By ▲ 0.60 (0.53%)
PRL 28.69 Decreased By ▼ -0.06 (-0.21%)
PTC 15.40 Decreased By ▼ -0.10 (-0.65%)
SEARL 57.80 Increased By ▲ 0.47 (0.82%)
SNGP 67.10 Increased By ▲ 0.11 (0.16%)
SSGC 11.22 Increased By ▲ 0.05 (0.45%)
TELE 9.24 Increased By ▲ 0.10 (1.09%)
TPLP 12.15 Increased By ▲ 0.10 (0.83%)
TRG 70.70 Increased By ▲ 0.31 (0.44%)
UNITY 23.90 Increased By ▲ 0.25 (1.06%)
WTL 1.34 No Change ▼ 0.00 (0%)
BR100 7,482 Increased By 26.7 (0.36%)
BR30 24,390 Increased By 139.5 (0.58%)
KSE100 71,843 Increased By 409.3 (0.57%)
KSE30 23,681 Increased By 115.1 (0.49%)

HONG KONG: Citigroup’s is planning to lay off around 20 equity researchers in Asia Pacific as part of its global overhaul, a person with direct knowledge of the matter said.

Two researchers in Hong Kong are going to be impacted with the rest of the headcount reduction likely to take place in Japan, Australia and Korea, the person said.

The cuts are going to make a small dent in the Wall Street bank’s regional research workforce where it has several hundred employees based in multiple markets, according to the source. The US bank declined to comment.

Amid its sweeping reorganisation, which is expected to lead to as many as 20,000 jobs being cut over the next two years, three senior executives were leaving Citi’s equity trading division, sources told Reuters on Wednesday.

Citigroup CEO makes sweeping management changes to simplify bank, cut jobs

Meanwhile, Citi’s Head of Asia Pacific Economic Analysis Liu Li-gang and Head of Investment Counsellors for South Asia Rob Hoffman at its Asia wealth division were leaving, Bloomberg reported on Thursday.

Hoffman and Citi declined to comment.

Liu did not immediately respond to messages seeking comment.

Comments

200 characters