April 21 (Bloomberg) -- Citigroup Inc. says it will expand its Warsaw-based investment-banking operations in Poland to take advantage of planned government asset sales.
The U.S. bank joins Goldman Sachs Group Inc., Credit Suisse Group AG and JPMorgan Chase & Co. in vying for advisory work for the government, which is preparing to sell stakes this year in its energy, insurance, chemical and phone companies to raise $10 billion to finance the widening budget deficit.
Poland’s government is urging banks to set up shop in Warsaw if they want business from the state. Citigroup, which is based in New York, bought a majority stake in Bank Handlowy SA, Poland’s biggest corporate bank, in 2001. Citigroup has about 5,800 employees in Poland.................
