Citi Asks Two Japan Bankers to Rethink Leaving in Talent War

Citigroup Inc. asked two stock employees in Japan to reconsider their resignations, the last sign of an intense talent war in one of the most strict markets of the world for financial employees.

New York -based lending, the senior manager of the distribution of equity in Tokyo, Ken Yoshikawa and his young colleague Rick Soo tried to convince him to stay after tendering the resignations, people who knew the issue, asked to be defined to discuss special details. Yoshikawa is expected to stay in the company, and it is not clear whether Soo will remain, said people added that the situation is fluent.

The negotiations emphasize the difficulties faced by global and local financial firms in Japan to protect the best personnel and to attract newcomers. Increased foreign investments, which are fed by the country’s explosion markets and inflation and relatively low borrowing costs, increase the demand for financial roles with a low unemployed ratio that underlines the boundaries of the labor pool.

In extreme cases, some companies refused to accept resignations and left the staff in limo. A historically rewarded loyalty culture contributes to the difficulty of separation from a company and even led to the rise of the resignation agencies they pay to help people leave.

In the meantime, companies that encounter increased demand for narrowed qualified candidates and increasing special skills use aggressive recruitment drivers and raise their payment packages to the levels that have not been seen before.

“We continue to invest and expand a key market for Japan, Citi on our market franchise, and we continue to invest and grow to support customers,” he said.

Soo refused to comment, and Yoshikawa did not respond to the messages sent to him in LinkedIn.

Movements come in the midst of a series of changes in Citigroup’s stocks, including the previously overhauled of the Asian sales trade model after leadership changes in Japan and regulatory examination.

In March, the Bank reorganized some high -level roles in Tokyo, and Akira Hoshino’s markets turned to Japan. Kazuhiro Nakajima was the head of market sales.

In the second quarter, the Citi won $ 5.9 billion in market revenue and exceeded the estimates, both fixed income and stock sales and better performance than trade.

In Japan, the net income in the unit of securities fell 33% in 2024 compared to a year ago. The number of personnel in the country is one of the largest among global banks.

With the help of Lisa du and Takashi Nakamichi.

This article was created from an automatic news agency feeding without changing the text.