The bank is opening its largest wealth advisory hub dedicated to Citigold and Citigold Private Client customers in Singapore in December 2020.
The new wealth hub on Orchard Road can house over 300 relationship managers and product specialists, and will have built-in facilities to host clients and events, according to an announcement on Tuesday.
The facility, which embodies biophilic design, aims to «enhance a visitor’s connectivity to nature,» and will also be LEED-certified, Citi said.
«Our vision for the new wealth hub is to be a holistic knowledge-sharing space that delivers a unique wealth banking experience to our clients,» Brendan Carney, Citibank Singapore chief executive officer and global consumer banking (GCB) ASEAN cluster head, said.
Growth Ambitions
The new wealth hub is a key part of Citibank Singapore’s multi-year growth plan and evolving retail strategy, with more planned in the future as the bank grows its business here.
«We see a great opportunity for us to serve the growing affluent segment in Singapore, and believe in the need to continue enhancing our client value proposition by investing in this new wealth hub,» Carney said.
Citi has previously stated its intentions to double its wealth management market share in Singapore from the current 5 percent, alongside the number of clients by 2025. The bank's assets grew 11 percent in 2019, with asset growth from its wealth management segment growing 19 percent.
