Citi Opens Malaga Office

Saw the number of articles on FT/WSJ on Citi's new office in Malaga where they are placing 27 analysts. Sounds like they are going to only work 40 hour weeks and be paid about 1/2 as much as bankers in the City. 


Anyone at Citi apply to the program? What's the deal? I have to imagine it's going to operate effectively like a more-advanced India team, where they get outsourced work from actual deal teams, but I could be wrong. 


https://www.ft.com/content/119e224b-f126-4a34-b775-db0666c97c33 

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