Citi targets 30% growth of APAC wealth management clients in 2019

The bank is tagetting 30% growth of Citigold clients in China.

Citi is aiming to grow its consumer banking mass affluent and high net worth client base in Asia Pacific by around 10% in 2019 as it banks on Wharton-trained relationship managers and the relentless enhancement of its digital wealth management platform to capitalise on the massive pace of wealth creation in the region.

In China, the bank expects a 30% increase in Citigold clients by 2019 which it aims to achieve by improving its digital value proposition.

Also read: HSBC targets US$1b in additional wealth revenue by 2020 from Asia's super-rich

Following a successful launch in India, the bank is rolling out a video engagement feature across the region to enable RMs to speak with clients on demand which comes on the heels of a newly launched digital tools like portfolio diversification indexing and stress testing abilities.

Also read: 67% of APAC's ultra-rich investors still prefer human advisors

Citigold clients can also unlock materials and offerings beyond the bank's card franchise and access to proprietary digital tools like Total Wealth Advisor and Citigold Diversification Index.

Citi's APAC wealth management business has over $256b AUM spread across 70 wealth management hubs in the region.