Hong Kong – Citi yesterday unveiled its first Citi Global Wealth Center ("CGW Center") globally at K11 ATELIER Victoria Dockside to support the growing financial needs of Citi Private Bank (CPB) and Citigold Private Client (CPC) clients. The CGW Center underlines Citi's commitment to invest and support clients in Hong Kong, one of the bank's four global wealth hubs.
Citi Global Wealth, the combined consumer and private banking businesses that were merged last year, is an integrated platform serving clients across the wealth continuum, from affluent to ultra-high net worth segments.
Officiating the opening ceremony of the CGW Center, Angel Ng, Head of Asia, Citi Global Wealth said, "As a top-three Wealth Manager in Asia, we are well positioned to capture Asian clients' growing appetite for wealth solutions and back them up with the best of both worlds, high-tech and high-touch. Hong Kong is one of our leading global wealth hubs and today's opening underlines our commitment to invest further to support client led growth in Hong Kong and across the region."
In Asia, Citi Global Wealth has close to US$200bn in client AUMs and over 2 million clients across its Citi Global Wealth franchise in the region.
In Hong Kong, as of September 2022, Citi Private Bank and Citigold Private Client recorded high single-digit and double-digit client growth from the end of 2021.
Drive Net Zero Together with Clients
Citi is proud to play a leading role in the industry's drive to a more sustainable future with clear targets to reach zero emissions by 2050 for our clients and 2030 for our own operations. In Hong Kong, Citi has a longstanding partner CLP Power Hong Kong Limited ("CLP Power") which has provided Citi's staff with sharing on the latest solutions of energy management and decarbonization.
Vicky Kong, Consumer Business Manager for Citibank Hong Kong added, "We see more affluent clients, including their next generations, focus on how sustainability relates to their businesses, portfolios and the communities they operate in. The CGW Center itself demonstrates our ESG-oriented culture and reinforces our commitment to work with our clients towards a sustainable future, while creating financial value."
Sustainability Beyond the Center
Citi will launch the NextGen Academy collaborating with the K11 Group through which a series of eco-educational activities will be hosted at Nature Discovery Park atop K11 MUSEA targeting the second generation of the Center's clients as it is Citi and K11 Group's shared vision that combating climate change has to be a concerted effort across generations. To extend its commitment towards sustainability outside the CGW Center, Citi Hong Kong also becomes a member of Mastercard's Priceless Planet Coalition. As part of the coalition, Citi Hong Kong has agreed to support forest restoration projects within the defined framework of Mastercard for the next two years.
CGW Center Digital Twin in Metaverse to Innovate Client Experience
Citi strives to be the lifelong partner on our clients' financial journey, leveraging FinTech to deliver new client experiences tailored to their preferences. The Citi Digital Wealth Center in the Metaverse was launched the same day which was built with interactive engagement capabilities such as online appointment booking, live streaming webinars, and more. Clients are welcome to visit the center virtually and experience Citi's private banking class of services beyond spatial and temporal boundaries. (https://play.decentraland.org/?NETWORK=mainnet&position=-119,-104)
CGW Center Additional Benefits
The CGW Center, located in Tsim Sha Tsui with over 10,000 square feet floor area, further extends its privileges through the partnership with K11 Group, the Center's clients can enjoy:
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.