Citigroup Inc plans to recruit 2,500 programmers this year for the unit that houses its traders and investment bankers, bulking up on coders and data scientists as technology reshapes the business.
Roughly three-quarters of the company’s trade orders last year were electronic, according to Stuart Riley, global head of operations and technology for the bank’s Institutional Clients Group. The ICG arm will add programmers in locations from New York to Chennai, India.
The hires reflect “what we are building in technology and why we are focused on making salespeople and traders more effective at servicing our clients,” Riley said in an interview at Citigroup’s Canary Wharf office in London. “Technology is augmenting what humans do by making better use of data.”
You might also be interested to read: Investment In India’s Real Estate Sector To Rise 5% To $6.5 Billion, Says Report
Global banks are investing billions in a race to apply technologies that make front-office staff more efficient and keep clients trading. Goldman Sachs Group Inc. and JPMorgan Chase & Co are among other firms that are hiring as computer specialists change the face of trading floors across Wall Street.
Source: Business Tech
