Citigroup has applied for a China securities license, joining JPMorgan, Goldman Sachs and others in seeking a deeper foothold in the country
Citigroup Inc. has applied for a securities license in China, according to a person familiar with the matter, as the New York-based banking giant eyes a bigger presence in the world’s second-largest economy.
The bank recently submitted its application to the China Securities and Regulatory Commission, the person said. Citigroup is also planning to apply for a futures license in the coming months and intends to hire around 100 people in mainland China in the next two years to support its expansion onshore, the person added.
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