Hong Kong – Citi Private Bank has been named Best for Ultra-High Net Worth (UHNW) in Asia by Asiamoney as part of the publication’s 2023 Asia Private Banking Awards. The awards program also recognized Citi Private Bank as Best for UHNW in Hong Kong.
Steven Lo, Asia Head of Citi Private Bank said, “We are honored to receive these awards from Asiamoney as we strive to serve our clients with excellence. We leverage our global network, sophisticated institutional franchise, and product as well as investment expertise to cater to the complex needs of global clients. These recognitions are testament to our great team in Asia and we remain committed to delivering the best of Citi to our clients.”
Pointing to Citi Private Bank’s strengths including its customized approach in meeting clients’ needs, Asiamoney said, “With more than US$740 billion1 in client assets in its global wealth management business, Citi embodies the modern-day financial behemoth. For all its scale, though, Citi Private Bank hasn’t lost the ability to customize its way of doing business, not just to succeed in Asia but to set the pace.”
“The private bank’s strong partnership with Citi’s global banking and capital markets advisory teams provides institution-wide expertise to clients,” Asiamoney added, noting that “The team … offers innovative and comprehensive investment strategies, ranging from traditional and alternative investments to capital markets and basic services such as portfolio management, trust and estate planning, investment finance, banking, and aircraft and art financing.”
Asiamoney also called out Citi Private Bank’s proposition for next-generation clients, Investing with Purpose program, and increasing focus on sustainability which is “putting the bank on the front foot of the ESG evolution."
Citi banks one-third of Asia’s billionaires. Despite challenging headwinds in 2022, Citi Private Bank saw momentum in client acquisitions and double-digit growth in its alternatives business. In the first quarter of 2023, the business doubled new client acquisitions year-on-year.
The methodology for each award/rating has been reviewed but not verified by Citigroup Inc. (Citi) or its affiliates. Please contact the provider of the relevant award/rating for information regarding eligibility of the underlying criteria and factors utilized in compiling the data. The receipt of an award/rating with respect to a product or service may not be representative of the actual experience of any client and is not a guarantee of future performance success. These awards consider information provided by Citi (and other applicants), and do not solicit input or responses from actual clients.
Citi Private Bank
Citi Private Bank is dedicated to serving worldly and wealthy individuals and families, providing customized private banking across borders. With around $500 billion in total client business, the franchise serves clients across 50 cities in over 100 countries. Citi Private Bank helps clients grow and preserve wealth, finance assets, make cash work harder, safeguard assets, preserve legacies, and serve family and family business needs. The firm offers clients products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance, banking and aircraft finance, art advisory and finance, and sports finance.
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 nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.
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Harsha Jethnani: +852 2868 7738, email@example.com
1Global Wealth Management Client Assets in 2022 was US$746 billion, including Assets Under Management, deposits and trust and custody assets.