Latest news with #RobertLighthizer
Finextra
3 days ago
- Business
- Finextra
Citi to lay off 3500 tech staff in China
Citi is to lay off 3500 tech staff in China as part of a major revamp of the bank's global operations. 1 The jobs affected are mostly in the information technology services unit, providing software technology development, testing and maintenance and operational services for Citi's global business. Citi say some of the roles will be relocated to the US and other sites, but declined to provide specific details. 'China has always been an important part of Citi's global network and business development. We will continue to firmly serve corporate and institutional clients in China and serve their cross-border banking needs,' Marc Luet, president of Citi Japan North Asia and Australia said in a statement. The switch comes amid heightened tensions between China and the US, as Donald Trump's tariffs mania leads to a further deteriortation in relations between the two global superpowers. Citi in May hired former US trade representative Robert Lighthizer to advise on tariff implications. Lighthizer served during Trump's first term, imposing tariffs on China and renegotiating the North American Free Trade Agreement (NAFTA) with Mexico and Canada. A business survey from the American Chamber of Commerce in China showed the share of US companies in China considering to relocate manufacturing or sourcing out of China hit a record high, at the outset of Trump's second term.
Yahoo
28-05-2025
- Business
- Yahoo
Citi hosts the Citi Singapore Macro and Pan Asia Investor Conference from 28 to 30 May
SINGAPORE, May 28, 2025 /PRNewswire/ -- Citi hosts the Citi Singapore Macro and Pan Asia Investor Conference from 28 to 30 May The conference brings together distinguished political and economic experts for a series of multi-dimensional discussions focused on the latest geopolitical developments, economic outlook and topical investment themes impacting the financial industry. Over the next three days, Citi is expecting over 1,500 delegates including clients, investors, corporates, family offices, and private bankers to attend the conference, which includes over 20 panels and presentations and almost 7,000 meetings between corporates and experts. Key speakers include: Robert Lighthizer, Chair of the Center for American Trade at AFPI and Former United States Trade Representative and Senior Advisor to Citi's clients on global trade, Loretta Mester, Former President and CEO, Federal Reserve Bank of Cleveland, and Dr Lawrence Summers, Former United States Secretary of the Treasury. Sue Lee, Head of Markets for Asia South at Citi, said, "We are entering a new era of trade policy and globalization, marking a deep structural shift in how markets move and how businesses operate. Citi's leading Markets franchise with a wide global footprint uniquely positions us to support our clients as they navigate this new environment." Citi's Markets business serves corporates, institutional investors, and governments from trading floors in almost 80 countries. The strength of our underwriting, sales and trading and distribution capabilities span asset classes (Commodities, Equities, Rates, Spread Products and FX), providing us with an unmatched ability to meet the needs of our clients. View original content to download multimedia: SOURCE Citi Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
01-05-2025
- Business
- Reuters
Citi hires former US Trade Representative Robert Lighthizer, WSJ reports
May 1 (Reuters) - Citigroup (C.N), opens new tab has hired former U.S. Trade Representative Robert Lighthizer as a senior adviser on global trade, the Wall Street Journal reported on Thursday. During U.S. President Donald Trump's first tenure, Lighthizer played a crucial role in the imposition of hefty tariffs on Chinese imports and the renegotiation of the North American Free Trade Agreement, or NAFTA, with Mexico and Canada. Corporations are increasingly turning to advisers to seek guidance on how to navigate the economic uncertainty triggered by Trump's tariffs, which have disrupted long-established global trade norms. A spokesperson for the bank did not immediately respond to a Reuters request for comment on the appointment outside regular business hours.
