Citigroup is looking to hire 2,500 coders for its trading and investment banking units, Bloomberg reported.
Citi's Institutional Clients Group (ICG) will hire coders and data scientists in London, New York Shanghai, Toronto, Dublin, Tel Aviv, Pune and Chennai in India, and Tampa, FL.
Stuart Riley, global head of operations and technology for ICG, said around 75% of the company's trade orders last year were electronic.
We are focused on making salespeople and traders more effective at servicing our clients"
Riley highlighted that the hires reflect what the bank is building in technology and why it is focused on making salespeople and traders more effective at servicing clients.
The push for programmers reveals "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 with Bloomberg.
The move comes as major banks shift from in-person trading operations to algorithmic programs. Goldman Sachs announced in August that it was hiring 100 engineers in tech-related roles on the trading floor.
JP Morgan is on track to spend $11bn on technology this year, while Bank of America has said it spends about $10bn on tech.
Citigroup has been shrinking its workforce, with the number of employees slipping to 199,000 at the end of the third quarter, an 18% drop from five years earlier. More recently, the firm has been cutting jobs in its trading unit as it attempts to meet long-sought efficiency targets.
An Accenture study found that automation can save North American banks $71bn by 2025.