Citadel Securities is planning to expand its trading business in Asia by increasing headcount and office space. According to Sina Finance, Asia is now the company’s second-largest revenue source outside the United States, and CEO Peng Zhao said it is seeking partnerships with local and global banks to increase trading volumes across the Asia-Pacific region.

The company expanded its Hong Kong office space by 40%, adding half a floor at Two International Finance Centre. Zhao said demand for trading non-U.S. products is expected to grow as the company develops its client business outside the United States, and that it is preparing for that demand. Citadel Securities has also launched a structured products business in Hong Kong, supporting its core business of matching buyers and sellers in global U.S. equity and fixed-income markets.

The company added nearly 100 employees in Asia this year, bringing its regional headcount to about 400. Nearly half of this year’s hires are based in Hong Kong, with the rest working in its Singapore, Sydney, and Tokyo offices. Competition is increasing as quantitatively driven firms such as Jane Street also expand in Hong Kong. Zhao said Asia’s talent pool is shifting toward a mix of technology, sales, and trading professionals.

Citadel Securities, which has more than 1,800 employees, has recruited executives from banks and hedge funds to strengthen its service to institutional investors in Asia. It hired former Millennium India CEO Prakash Subramanian K.V. as country head for India and Singapore, and Richard Smerin from Morgan Stanley as global head of structured products.