Citi Markets expects to increase headcounts in its Asia rates and prime businesses over the next year as market activity booms, it says.
The company plans to expand its teams by 5-10% over the next year, it stated.
Over the last two years, Citi Markets states, its prime hedge fund clients in Asia have doubled. In the first half of 2025 alone, client flows into China and Hong Kong were up 30%.
Paul Smith, head of markets for Japan, Asia North and Australia at Citi, commented, “The surge in client activity, particularly from hedge funds, and the booming IPO market in Hong Kong and China have created an unprecedented demand for our services. The strategic expansion across our Markets franchise and in particular, our rates and prime businesses, will allow us to better serve our clients and capitalize on the significant growth opportunities in the region.”
Quant funds are also flocking to the region, with an increased number of US-based firms using Citi Markets to access less-liquid Chinese A-shares.
Citigroup reported US$4.3 billion in fixed income market revenues over Q2, up 20% year-on-year. Within this, rates and currencies were up 27% YoY while spread products and other fixed income revenues increased by 3%.
Equity market activity was more subdued, with revenues up 6% YoY to US$1.6 billion – driven by prime services, with prime balances up 27% YoY.
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