Citigroup beefing up tech staff to serve institutional clients: Bloomberg

Citigroup Inc. head of markets and enterprise risk technology Jonathan Lofthouse told Bloomberg on Monday the bank plans to add 4,000 people to its technology staff to serve the bank’s institutional clients. “We’re trying to digitalize as much of our client experience as possible, front and back, and modernize our technology,” Lofthouse told the news service. The hiring includes 1,000 recruits to join Citigroup’s markets technology operations. The push comes partly in response to the COVID-19 lockdown, when more people worked from home and streamed TV shows and movies and bought groceries, all online. Shares of Citigroup are down 14.9% so far in 2022, compared to a loss of 13.5% by the S&P 500 .

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