Citi opens new office at Busan International Finance Center

It’s meant to further support its securities services operations in Busan.

Citi has opened an office at the Busan International Finance Center (BIFC) to support its securities services operations in the city

The Busan Metropolitan City Government selected Citi in December 2020 to be one of BIFC’s first international tenants. Busan City set up BIFC with the aim of developing Busan as a leading global financial hub.

Citi said that its BIFC office will be staffed by employees dedicated to providing global custody services to the KSD in order to perform global securities depository/settlement services with greater efficiency. 

“Korea is and has always been a very important market for Citi and we are honoured to work with clients such as the KSD,” said Im-Sun Lee, Citi’s Korea head of custody and fund services. “We continue to invest in our Securities Services operations both regionally and globally, and this office opening allows us to provide greater levels of client service in terms of our custody  and fund services offering to our institutional client base.” 

Citi launched its first branch in Korea in 1967. The bank said that it plans to reorganize and strengthen its Korean businesses centred on its institutional client offering. 

Photo courtesy of Jeans-Olaf (Skyscraper.com)