Citi will open its largest wealth advisory hub dedicated to Citigold and Citigold Private Client customers in Singapore in December 2020. The hub is also targeting double digit growth in market share and its number of clients in the wealth segment over the next few years.
The bank says the new hub is a key part of its multi-year growth plan and evolving retail strategy. Currently, close to 90% of the bank’s retail banking customers are using digital platforms for their daily banking needs, while less than 1% of transactions occur in Citi branches.
The hub, officially named Citi Wealth Hub at 268 Orchard, will have over 30 client advisory rooms, as well as flexible work and event spaces spanning a total of 30,000 sq ft across four floors.
The new wealth hub will have built-in facilities to host bespoke lifestyle events for clients as well as investment seminars, and can house over 300 relationship managers and product specialists.
Citibank’s International Personal Bank clients visiting Singapore may also utilise the hub for cash services.
The web, which embodies a Biophilic Design, which can be found in Singapore’s iconic buildings such as Jewel Changi and Gardens by the Bay, will also be LEED-certified.
“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. 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,” says Brendan Carney, CEO of Citibank Singapore Limited and Global Consumer Banking (GCB) ASEAN Cluster Head.
