: Work hard, play harder: Citigroup sent 27 lucky junior bankers to toil beside one of Spain’s finest beaches

by | Sep 14, 2022 | Stock Market

Citigroup has dramatically upped the ante when it comes to luring young bankers in a competitive job market, assigning them to a two-year stint at the Spanish seaside. The Wall Street bank
has set up a new branch for junior investment bankers in Málaga, the capital of the province of the same name on Spain’s southern Mediterranean coast. Temperatures in the seaside city rarely drop below 38ºF in the winter or exceed 97ºF in the summer.

Citi received more than 3,000 applications from graduates of top universities in Europe, the Middle East and Africa, the Asia-Pacific region and Latin America. The 27 junior analysts chosen represent 22 nationalities and speak 15 different languages, including English, which will be the branch’s main idiom for doing business. After two years, they will be able to apply to work elsewhere within the bank. Most of the new hires are between the ages of 22 and 26, with the oldest aged 32; the team is 59% male and 41% female. The group will be working to fulfill Citi’s strategy of aligning resources with sectors where it sees key growth: digital disruption, technology, health and wellness, sustainability revolution and energy transition. “After considering distinct locations in Europe, the Middle East and Africa, it was decided that the new group would be located in Málaga for its recognized capacity to attract and retain talent internationally,” Citi said in a statement. The office is situated in the center of th …

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