For Immediate Release Citigroup Inc. (NYSE: C)

Citi Asia Pacific Sets Record for Net New Money in Wealth Management

January 04, 2021


Exceeds US$20 billion for first time in its history

Hong Kong/Singapore – Citi has to date attracted over US$20 billion in net new money across its regional wealth management business, surpassing last year's total by over 10%. This result includes the Consumer Banking wealth franchise as well as the Private Bank, covering emerging affluent to ultra-high net worth clients.

"The Asia Pacific wealth market stands out in its scale and growth potential. And this is not a cyclical opportunity—it is structural, driven by the emergence of a vast middle class and the rapid development of regional capital markets. Along with macro-level asset growth, Asian customers increasingly require portfolio advice, design and allocation geared toward diversification of asset types and geographic exposures. As the world's most global bank, with broad-based expertise across investment products, we are strongly positioned and fully committed to serving these needs. We are already a market leader in the region, and taking this business to the next level is a strategic priority," said Peter Babej, Asia Pacific CEO.

"As we grow our wealth operations, we are focused on first-rate service—and that means staying ahead in technology. Clients increasingly want world class advisory delivered on their preferred terms—online, face to face, or both. Our wealth centers, with world-class RMs leveraging digital wealth management solutions, are geared to delivering the customized value propositions that our clients require. We continually invest in both our people and our technology to remain at the forefront of this fast-moving business," said Babej.

  • Citi's wealth franchise includes Citi Priority (emerging affluent customers), Citigold (affluent), Citigold Private Client (Core HNW) and Citi Private Bank (Upper HNW and Ultra HNW). CPB counts approximately one-third of the region's billionaires as clients.
  • Citi utilizes an open architecture platform, including access to proprietary institutional as well as third-party products.
  • Refreshed digital value propositions, including a new mobile banking experience with enhanced wealth management tools, have driven significant client momentum and growth in mobile users by over 1 million.
  • Relationship Managers are trained by the Citi Wharton Global Institute, a joint executive education program launched with The Wharton School in 2015.
  • With approximately US$285 billion in AUM, Citi ranks among the top three wealth managers in Asia Pacific.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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Media contact
James Griffiths,, 852-2868-7668

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