Citigroup to open office at Roosevelt Island Cornell tech campus

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(Bloomberg) -- Citigroup Inc. will open an office at the Cornell Tech campus on New York’s Roosevelt Island, the latest bid by a financial firm to boost innovation and recruit young engineers.

The bank has leased 10,900 square feet (1,013 square meters) in The Bridge, a space on the new campus where engineers and entrepreneurs will work, Citigroup said in a statement Monday. As many as 80 Citigroup employees will be based there starting in the first quarter of 2018.

“Co-locating in The Bridge with companies, entrepreneurs and students will create an energized environment that fosters innovation and enables interaction with a wide range of emerging talent,” Don Callahan, Citigroup’s head of operations and technology, said in the statement.

Citigroup is seeking to collaborate with Cornell Tech students and faculty on emerging technologies such as blockchain, biometric authentication and cyber security, the New York-based bank said.

Financial firms are vying for top technology talent and are trying to get a leg up on the competition by keeping a presence on university campuses. London hedge fund Man Group Plc started a research center at Oxford University in 2007 and revamped it in August to focus on artificial intelligence, creating a hunting ground for recruits. New York-based firm Two Sigma, a computer-driven investment firm, will also locate at The Bridge on the Cornell Tech campus.

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