Citibank Korea has launched its first Citigold Private Client centre, which is a wealth management service for high net worth individuals (HNWIs).
The Citigold Private Client Center is based on the 12th floor of Gangnam Finance Center in Seoul, South Korea
Citigold Private Clients centre targets clients who have a minimum total balance of 1bn KRW (US$880bn) and, of these, 500m in investment assets.
Citi said clients at Citigold Private Clients will receive a personalised wealth management service.
The financial institution said its private bankers are qualified with at least 10 years of experience in wealth management and have on average of 15 years of total experience in the financial industry.
Commenting on the development Citibank Korea CEO, YK Ha said: “Citibank first introduced [a] wealth management service in Korea with ‘Citigold’ brand to customers with 100 million KRW back in 1991. Since then, 21 years have passed and the HNWI market has grown significantly.”
The Seoul opening follows the launch of the bank’s recent opening of the first Citigold Private Centre in China last month, and the first EMEA Citigold Private Centre branch in Moscow in June.