Citigroup Inc said on Tuesday it planned to grow its Asia Pacific wealth managem...
FILE PHOTO: A Citibank sign on a bank branch in midtown Manhattan, New York, November 17, 2010. REUTERS/Mike Segar/File Photo
Citi’s regional wealth management business, which is a part of its Asia Pacific and Europe, the Middle East and Africa consumer banking unit, targets clients in Asia Pacific and EMEA with investible assets of between $100,000 and $10 million in 17 markets. Asia Pacific saw total household wealth grow by 3 percent in 2018 from a year ago to $114.6 trillion, making it the largest wealth region globally and putting it ahead of the United States and Europe, according to a Credit Suisse global wealth report.
“We are confident the investments we have made and continue to make will support double-digit client growth rates in 2019,” Gonzalo Luchetti, Citi’s head of consumer banking for Asia Pacific and EMEA, said in a statement.
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