An unwavering commitment to Singapore and the future generation

According to the World Bank, Singapore's 2020 GDP per capita, at US$59,798 (S$80,820), is one of the highest in the world, surpassing that of other developed Asian economies such as Hong Kong and Japan.

More than one in five Singapore resident households enjoy a monthly income of at least S$15,000 while 13.9 per cent earned at least S$20,000 in 2020, based on data from the Department of Statistics.

To further enhance its capacity to serve the affluent and high net worth segments, Citibank Singapore opened its largest wealth hub dedicated to Citigold and Citigold Private Client customers globally in Singapore last year. It also recently announced plans to double down on wealth management. Plans in the pipeline include hiring up to 1,500 staff for its consumer wealth business to support plans to triple assets under management (AUM).

Continuously innovating to deliver a seamless banking experience

With more resources being channelled into Singapore, Citi will also invest in more tech infrastructure, in particular the proprietary tools that can be accessed via the Citi Mobile® App. These include Citibank Brokerage, which lets customers trade stocks listed on several markets while on the move, and Citibank Online Foreign Exchange or eFX, which lets customers trade between 15 different currencies at attractive exchange rates.

Over the past year, a series of upgrades and enhancements were made to transform customer experience on the app - a testament to the bank's commitment to evolving with the customers' needs. New features include dashboard nudges for account activities that require immediate attention, an in-app chat line that gives users direct access to their relationship managers and a new tab that features products and services tailored to each user.

Citigold and Citigold Private Client customers, also known as Wealth customers, can leverage advisory tools such as the Citigold Total Wealth Advisor, on the app to keep track of how hard their investments are working for them. Goals - such as saving for a child's education or ensuring that there are ample funds for retirement - can be set and reviewed in consultation with relationship managers to determine the most suitable investment portfolio. With the Citi Mobile® App, customers can keep track of their goals and view the performance of their investment portfolio anywhere, any time.

Citigold Private Client customers have access to the more sophisticated Portfolio 360°, a wealth counseling tool that helps users understand potential portfolio behaviour in various scenarios. Through Portfolio 360°, users have access to insights such as forecasted portfolio performance in simulated periods of market stress and the impact interest rates have on the cash flow of a bond portfolio. External investments can also be easily incorporated for a more holistic portfolio analysis. Such in-depth portfolio assessment empowers users to make informed decisions that can maximise returns.

In addition to those mentioned above, there are also other banking privileges exclusive to Citigold and Citigold Private Client customers (see table below).

The Citigold and Citigold Private Client segments

Citi serves up exclusive perks to the affluent through its Citigold and Citigold Private Client segments. To start a Citigold relationship, customers need a minimum of S$250,000 in AUM, while Citigold Private Client is for those with at least S$1.5 million in AUM. Customers in these segments have access to a wide range of privileges from tailor-made wealth solutions to exclusive invites to events, as well as wealth advisory services from a dedicated relationship manager and a team of specialists.

Citi's relationship managers go through a specially designed executive education programme by the Citi Wharton Global Wealth Institute - a partnership between Citi and the Wharton School of the University of Pennsylvania - to provide the best-in-class client-facing and investment management skills.

With its broad and deep expertise in key financial markets around the globe, Citi offers a suite of world-class products and solutions that focus not just on wealth protection, accumulation and preservation, but also goals such as sustainability.

Inter-generational succession for a post-pandemic world

Citigold Private Client customers have exclusive access to Citi's Next Generation programmes that provide insights and resources on entrepreneurship, financial planning and essential skills that will give them a head start in life.

Citigold Private Client customers who trade frequently can also take advantage of the bank's first of its kind Wrap programme, which charges a single fee based on the market value of the assets held, regardless of how often the customer trades. This benefits those who transact often, as it is different from the usual transaction fee format where customers have to pay fees for each transaction.

Managing your wealth can be a challenging process but not if you have a trusted financial adviser with the knowledge, tools, access to global insights and support from a team of specialists, to help you achieve your goals and aspirations.

Let Citigold partner you in your wealth journey today, and for the future. Start a Citigold relationship today and get up to S$7,476*. Find out more.