Citibank has launched a wealth
management service aimed at high net worth (HNW) individuals with
assets under management of between $1m and $10m.
Launched jointly in Singapore and Hong Kong,
CitiGold Private Client, aims to cater for both personal and
business wealth and provides a stepping stone to the ultra HNW
service provided by Citi Private Bank.
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According to the World Wealth Report
2009, compiled by CapGemini and Merrill Lynch, the combined
wealth of Asia-Pacific’s HNW individuals is estimated to grow at an
annual rate of 12.8% by 2013, surpassing the global average of
8.1%.
CitiGold private client services will be
rolled-out across the region in phases. The service will be
introduced in India and Taiwan in the second half of the year,
followed by Korea, Japan, Malaysia, Indonesia and the
Philippines.
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