Citibank N.A. Indonesia has entered into a strategic partnership with Manulife Asset Management Indonesia (MAMI) to provide alternative solutions for investment.
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The collaboration will see Citibank distributing the alternative solutions products through its 20 branches to six major cities in Indonesia, reported Jakarta Globe.
Citi Indonesia country business manager for global consumer banking Lauren Sulistiawati said: "This partnership further strengthens the Wealth Advisory services that are part of our Citigold service.
"Through cooperation with investment managers companies in Indonesia, Citi can provide the flexibility and wider diversification opportunities for our customers," he added.
As part of the partnership, Citi and MAMI have has already launched an investment product for long-term investment called Manulife Saham Strategi Unggulan (MANSATU).
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By GlobalDataMANSATU will invest 80% -100% of its investment in the stock effects, 0% -20% in fixed income securities and 0-20% in money market securities.
Citi Indonesia head of wealth management Ivan Jaya said: "The introduction of MANSATU products will add to the list of high-quality financial products that we offer through our wealth management services."
