Citibank plans Canadian expansion, new hiring as it seeks to capitalize on shifting global trade

Citibank’s C-N Canadian unit is expanding its business in the country by hiring staff and onboarding more clients, as the U.S. lender seeks to capitalize Canada’s “once-in-a-generation opportunity” as global trade routes are redrawn.

As the Liberal government seeks to unwind Canada’s trade dependency on the U.S. as well as hike spending for defence and infrastructure projects, more Canadian companies are expanding globally while multinational corporations are looking to do more business in Canada, according to Citibank Canada’s new chief executive officer Raymond Gatcliffe.

“It’s about that realization that they have to make a strategic pivot to ensure continued and consistent growth. The diversification point is one that everybody is acknowledging,” Mr. Gatcliffe said in an intervie