Private banks keep hiring as rich get richer

Private banks will sharply expand headcount in coming years to capitalize on the growing number of wealthy individuals in Asia, dismissing concerns that aggressive hiring is out of sync with a tentative recovery in revenues. Hiring sprees this year have taken some firms beyond their pre-crisis staffing levels, as banks believe growth in Asia, and robust revenues elsewhere, will support the expansion. Citi for instance plans to add between 100 and 200 senior staff to its private bank over the next few years…