Citigroup (C) to Establish Investment Banking Unit in China

Citigroup C is likely to launch a wholly-owned investment banking unit in China within the next 12-18 months. The unit will hold job positions for around 30 employees initially, which is expected to increase to almost 100 in the upcoming years. This was first reported by Reuters.Per a source familiar with the matter, C has already hired three people for senior management roles of chief executive officer, chief financial officer and chief compliance officer for the unit.Markedly, in the latter..