Bank launches Overseas Singaporean Network to deepen engagementwith locals working for Citi abroad

SINGAPORE, March 29, 2022 /PRNewswire/ -- 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[1] 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[2] , 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[3] . 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.

[1] Refer to the appendix for two overseas Citi Singaporean staff profiles

[2] Refer to the appendix for more information on Citi Singapore's talent development programme

[3] See the appendix for a full list of Citi Singapore milestones

 

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

Appendix 1

Two Citi Singaporean staff profiles

1.   Mohd Salim, EMEA Citi Private Bank Banking and Custody Product Management (in Switzerland)

  • Based in Zurich, Switzerland
  • Age: In his 50s
  • Been with Citi for 27 years, has worked overseas with the bank since 1999

Soundbites

Why did you choose to work overseas?

 

It's to gain the diversified experience that Citi offers.

How have you benefited from working overseas?

 

 

 

Switzerland is the centre of Private Banking, and EMEA (Europe, the Middle East and Africa) gives the opportunity to experience and be exposed to a wide scope of products.

In addition, the location also provides wide exposure to various market regulations due to the multiple jurisdictions that we are present in.

What were the challenges of working and living overseas and how did you overcome them?

 

 

 

The rules of social etiquette in Switzerland mean the Swiss are generally reserved and polite. Most importantly, they respect each other's time and privacy.

 

For example, when I came to Switzerland more than 20 years ago, taking a shower after 10pm or cleaning/vacuuming your home after 10pm or on Sundays are considered a disturbance of the peace. Although these activities may be trivial to us, but it really needs serious adjustment or else you will find the police knocking on your door. However, this has slowly changed over the years.

2.   Hannah Wang, Product Sales Manager for Asia Pacific in Securities Services (returned from Hong Kong to Singapore in 2021)

  • Age: 41
  • Been with Citi for 6 years, worked overseas in Hong Kong from 2016-2021

Soundbites

Why did you choose to work overseas?

 

I chose to work overseas because I wanted to gain the experience and exposure of working with different types of people and culture. I would also like to expand my network professionally and personally.

In addition, I am the typical Singaporean who did everything in Singapore, and so when an opportunity came for me to try something different, I had to take that chance. I wanted to challenge myself if I am able to survive alone in a completely different environment.

How have you benefited from working overseas?

 

 

 

Working overseas helped me to build my adaptability and independence. It definitely expanded my network professionally and personally.

Working overseas also gave me different perspectives in life professionally and personally which helped me to become a better person.

What were the challenges of working and living overseas and how did you overcome them?

 

 

 

Learning about a different culture and language and trying to assimilate locally was the most challenging for me when working and living overseas.

When I first moved to Hong Kong, I had no friends or family and I was unable to speak Cantonese at all. Although English is a language used in Hong Kong but being able to converse in Cantonese helps.

I was also in a new job and did not have any network professionally internally and externally. I had to make new friends both locally and internationally, and build my own support group professionally and personally.

I also picked up Cantonese by watching Hong Kong dramas and by speaking broken Cantonese to my local colleagues and friends.

Appendix 2

Key Citi Singapore Talent Development Programmes

ASEAN Talent Development Programme

The ASEAN Talent Development Programme provides leadership pipeline for senior roles in the region. The programme focuses on building desired attributes and teaching skills in demand, which have been identified as common learning and development needs across the APAC and ASEAN region in our talent review. 20 Singaporeans participated in the most recent run of the programme out of a Singapore cohort of 34 and total cohort of 111.

Citi Singapore Learning Academy

This academy was launched at the start of 2020, with a revamp that was driven by the need to meet Citi's current and future business needs. To build a deep understanding as to which skills are in demand and would be future compatible, we referenced both external skills frameworks such as the SkillsFuture Skills Framework for the Financial Services as well as did groundwork and listened to staff on their needs.

The academy is structured around three main learning categories – Innovation & Data Skills Series, Personal Effectiveness Series and New Normal Series. Within these areas, staff are able to pick up skills that are in demand such as Analytics, Data Visualization with Python, Dealing with Mental Health, Presenting & Influencing with Impact and Human Centered Design

Citi Women Leadership Development Programme (CWLDP)

Offered through Citi's Global Talent and Diversity office, this three-day programme is designed to develop high-performing female employees at the Director and Managing Director levels by building their leadership capability. Attended by top level senior managers, three out of the eight employees that Citi Singapore sent to this global programme in 2021 are Singaporeans.

Appendix 3

Citi Singapore Milestones

2020: Opening of Citi's largest Wealth Hub globally in Singapore
2020: Received the National Volunteer and Philanthropy Center (NVPC) 'Champion of Good' award
2018: Pledged support to Singapore's Year of Climate Action
2018: Received the President's Award for Volunteerism & Philanthropy in the Corporate, Large Enterprise category
2017: Recognized as a Human Capital Partner by Tripartite Alliance for Fair & Progressive Employment Practices (TAFEP)
2015: Identified by the MAS as a designated Domestic Systemically Important Bank (D-SIBs)
2013: Launched CitiDirect Banking Evolution (BESM)
2011: Established two innovation labs (Consumer and Treasury & Trade Solutions) in Singapore
2010: Approved as Bank Clearing Member by SGX
2005: Citibank Singapore Limited (CSL) operates under a full banking license
2003: Citibank Singapore Limited (CSL) incorporated locally
1999: Citibank N.A. Singapore Branch obtains a Qualifying Full Bank (QFB) license from MAS.
1983: Citi starts its International Personal Bank (IPB) business in Singapore
1982: Citi starts its Consumer Bank business in Singapore
1976: Citi starts its Private Banking business in Singapore
1902: The International Banking Corporation opens its first premises at Prince Street and it is the first American bank to set up a branch in Singapore.