US banks race to hire in India as Asia becomes a profit powerhouse
US banks are expanding their operations in Asia, with India emerging as a key hiring hub. Major firms like Citi and JPMorgan are leading recruitment drives, despite keeping details of their Asian strategies relatively low-profile. The region has become a critical growth area for American financial institutions.
Last year, US banks in Asia played a significant role in boosting the overall performance of many top firms. Bank of America reported a 23% increase in equities trading across the region during the fourth quarter. Morgan Stanley saw even stronger growth, with its Asian revenues rising by 50% over the past two years. The firm’s institutional securities group now earns more from Asia than from Europe.
India, in particular, has become a preferred location for hiring. Global capacity centres in the country have hundreds of open positions, attracting talent for back-office and client-facing roles. Citi and JPMorgan remain the biggest recruiters in the region, though they disclose little about their broader Asian plans.
Meanwhile, Goldman Sachs is taking a more targeted approach. The bank aims to strengthen its Asia franchise by focusing on specific client segments and product areas. This strategy reflects a broader trend among US banks to deepen their presence in high-growth markets.
As of January 26, 2026, no public records confirm the hiring of a high-ranking Citibank employee for its foreign exchange trading department in India.
The expansion of US banks in Asia shows no signs of slowing. India’s role as a hiring centre continues to grow, while firms like Morgan Stanley and Bank of America report strong revenue gains from the region. With Goldman Sachs refining its focus, the competition for talent and market share in Asia is set to intensify.
