Citadel Securities LLC is planning to bolster business in China while it hires across Asia, expanding in the region at a time when most financial firms are cutting costs, reports Bloomberg. The US company is planning to build a bigger on-shore presence in China and working closely with regulators, Citadel Securities Chief Executive Officer Peng Zhao said in an interview in Hong Kong.
“China is well-positioned to be a driver for world economic growth for the next two years,” he said. “We have every desire to invest more in China.”
Billionaire Ken Griffin’s Citadel Securities has more than doubled its headcount in Asia in the past three years, expanding offices from Tokyo to Singapore, and Sydney to Gurugram. The company, which mostly focuses on market making in Asia, sees the region catching up with the US in profitability and revenue, standing already as its second-largest contributor.
You must log in to post a comment.