Citibank Korea Launches Citigold Private Client, a Wealth Management Service for HNWIs with Special Attention to Investing
SEOUL--(Korea Newswire) August 17, 2012 -- Citibank Korea has opened its first Citigold Private Client Center in the 12th floor of Gangnam Finance Center on August 17, 2012. On the day of the opening, senior management from regional and local offices including Jonathan Larsen (Global Retail Banking Head), YK Ha (Citibank Korea CEO), Paul Hodes (AP Consumer Bank Wealth Management Head) joined with Citibank employees and clients to celebrate the opening.
Citigold Private Clients targets top tier clients in the bank with minimum total balance of 1 billion KRW and, of these, 500 million in the investment assets. Citibank is separating clients whom require professional investment advice most and is aiming to provide unique and differentiated product and research backed by top class private bankers.
Clients at Citigold Private Clients will receive personalized wealth management service from most experienced and capable private bankers selected through strict evaluation process. 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. Private bankers are consistently trained to enhance their knowledge to provide better service to clients. Each private banker handles only a small number of clients enabling him/her to pay close attention to provide financial service based on individual client’s best interests. Additionally, dedicated team of experts including portfolio counselor, insurance counselor, investment product specialist, research specialist, tax, legal and real estate specialists support private bankers to give holistic financial service and meet client’s sophisticated needs.
Investment opportunities offered to clients are also tailored based on each client’s investment preference. As Citibank has been a leader in the structured product, it will keep providing diversified structured products exclusively to clients of Citigold Private Client. Also, Citi’s daily pick of 500 bonds list produced from global research will stand out as a new investment horizon for many investors. In addition to structured products and bonds, FX Forward is exclusively offered to Citigold Private Client to manage risks associated with foreign currency when investing in assets overseas. Lastly, clients are provided with exclusive research produced from Citi’s global research (446 analysts, 70 countries, 3,312 names) and most importantly, this information can be delivered to investment opportunities with the close attention from the well experienced private banker.
As children’s education is one of the key interests of HNWI clients, Citigold Private Client is offering training courses for scions and legacy planning advice. Not just recommending products, legacy planning advisory is provided and children are exclusively invited to experience local and overseas financial training program specially created for them. Other privileges include Citibank’s renowned global banking service. Global banking service helps clients to easily access global Citigold Private Client centers and convenience when opening account/credit card overseas. In case of emergency, clients can get emergency cash service up to 10,000 USD.
YK Ha, CEO of Citibank Korea said “Citibank first introduced 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. Going through the financial crisis, HNWIs have developed need for the sophisticated financial service. Citibank is introducing Citigold Private Client to meet this market demand and will provide enhanced professional wealth management service. As Citibank Korea has been selected as best private bank in Korea from Asiamoney for three years in a row, we have proved our specialty in wealth management service. I believe we can now provide private banking know-how to more clients by introducing Citigold Private Client.
Citigold Private Client will run series of investment seminars inviting key speakers from global financial market starting with Mark Mobius seminar on August 21, 2012. Additionally, weekly and monthly seminars with CIOs are scheduled going forward. Clients are also provided with 1:1 meetings with 20 panel of investment committee formed with CIOs from renowned asset management companies in Korea.
The 1st branch opened in Gangnam Finance Center today will be Citigold Private Client flagship location. Citibank has placed private bankers in other branches and is planning on expanding Citigold Private Client centers.
Shin, Hyeon Jeong
Citibank Korea Inc.
Shin, Hyeon Jeong
Citibank Korea Inc.