,APAC

Citi Global Wealth APAC sees $15b net new money inflow in H1

About $8b were added in Q2.

Citi Global Wealth attracted close to $15b in net new money from the Asia Pacific region in the first half of 2021, marking one of the bank’s strongest half years on record for its wealth business.

About $8b of the net new money was added in the second quarter (Q2). Assets under management for the quarter is up 21% compared to Q2 2020.
 
“We are capturing market share as Asian clients increasingly require portfolio advice, design and allocation geared toward diversification of asset types and geographic exposures,” said Citi CEO APAC Peter Babeh.

The strong growth was also supported by the addition of several hundred wealth professionals in the Asia Pacific so far this year, Citi said in a press release. The hiring is part of plans to add an extra 2,300 wealth staff including 1,100 RMs and PBs to support clients and grow client assets by $150b by 2025. 
 
Growth came across the bank’s client base from affluent to high net worth and ultra-high net worth and was underpinned by strong investment sales. 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Google Pay users can get up to a 20% cashback when they pay through SGQR.
It is exiting the retail banking business to refocus on corporate transactions.
NPL ratio is expected to rise to its highest since the 2009 financial crisis.
The latest licensed banks in Thailand have loan market share below 0.5%. 
The capital injection was approved by the State Bank of Vietnam.
RetireSavvy allows Singaporeans to adjust their retirement plans.
Its net promoter score rose 35% in 2021 from end-2020.
Chuchkina has 15 years of experience in the fintech industry.
Green projects have the potential to create over 1,350 jobs in the country.
Rapheal Mun will relocate from Singapore to London for her new role.
The new COVID surge that began in April may hinder GDP recovery.
Banking leaders admit that they are at risk of ceasing to exist in 5-10 years.