CITI today officially opened its new office building in Penang, marking a significant milestone in the global financial institution’s continued expansion and investment in the region.
The ceremony, attended by state officials and industry leaders, underscored Citi’s growing role in Penang’s Global Business Services (GBS) ecosystem and its commitment to long-term collaboration and innovation.
Chief Minister Chow Kon Yeow, who officiated the launch at the new facility located in Sunshine Mall, Air Itam, mentioned that the new facility houses over 1,000 multilingual professionals.
“It reinforces Penang’s status as a hub for high-value, and global financial operations. Citi Penang’s team supports the daily operations in multi-languages, namely English, Mandarin, Cantonese, and Bahasa Malaysia. This reflects the diversity and capability demanded by Citi’s global network.
“Citi’s presence here is a powerful testament to Penang’s strategic importance in the global financial landscape.
“This is more than just a new office as it is a symbol of our shared commitment to progress and innovation,” Chow said during the official opening of Citi new facility.
Citi processes over 100 million transactions annually across 55 countries, handling more than USD 25 trillion.
The Penang office plays a key role in this global infrastructure, with its efforts extending beyond operations to include policy development, industry collaboration, and talent development.
Chow commended Citi’s recent involvement in the local ecosystem, including its participation in the GBS Go AI Discovery Fun Race on April 12, and its partnership with Universiti Sains Malaysia (USM) on the GBS@USM course.
“It is an initiative aligned with the state’s Penang2030 vision for inclusive and innovation-driven growth,” he said.
Chow said Penang has been aggressively developing its digital economy through initiatives like GBS@Mayang, GBS@Mahsuri, and the upcoming GBS@Technoplex, positioning the state as a centre for integrated circuit design and digital innovation.
“These developments aim to attract high-value investments and promote advanced research and development,” he added.
In response to the global trade uncertainties, including the 24% reciprocal tariff imposed by US President Donald Trump on Malaysian exports, Chow announced the formation of a Tariff Monitoring Task Force and the development of a Trade Adaptation Toolkit.
“These measures are designed to support local exporters to navigate global market shifts through regional trade agreements,” he said.
Chow also emphasised the importance of establishing the proposed Penang International Financial Centre (PIFC), which is aimed at transforming Penang into a regional financial and fintech hub.
“Citi’s sustained growth in Penang is a strong endorsement of our vision to forge a future of shaped prosperity and global relevance,” he said.
Citi Asia South Cluster & Banking head Amol Gupte hailed the new office as a major achievement.
“This is a remarkable feat for us, contributing to the growth of the financial landscape in Penang,” he said.
Among those present were InvestPenang chief executive officer Datuk Loo Lee Lian, Sui Wah Corporation Berhad managing director Datuk Hwang Thean Long, Citi country officer for Malaysia (COO) Vikram Singh, Citi Asia South Cluster TTS Operations head Sanjeev Behl, Citi Global Trade Operations head Peter Lee, and Citigroup Transaction Services Malaysia (CTSM), Penang head Rohit Pushp.
Story by Edmund Lee
Pix by Ahmad Adil Muhamad
Video by Darwina Mohd Daud