,Hong Kong

Citi Hong Kong, CGB team up to offer wealth services under Wealth Management Connect

Citi plans to offer around 100 types of wealth products from the mainland.

Citi Hong Kong has announced a partnership with China Guangfa Bank (CGB) to offer cross-border wealth services to clients in the Greater Bay Area under the Wealth Management Connect (WMC) scheme.

Citi plans to offer nearly 100 types of wealth management products with low-to-medium investment risk under WMC to southbound clients from Mainland China. These include bonds, mutual funds, as well as multiple foreign currencies services through both remote and manned channels. 

For northbound clients from Hong Kong, CGB will reportedly offer a range of low-to-medium risk agent financial products, mutual funds and wealth management products under the WMC framework

Lawrence Lam, consumer business anger for Citi Hong Kong, expressed the bank’s excitement to be amongst the first batch of banks launching WMC services for GBA  clients.

“WMC opens up unprecedented market opportunities for the financial industry in this area as consumer wealth continues to grow,” Lam added. 

The partnership forms part of Citi’s wealth ambitions in the Greater Bay Area and China. Just this year, the bank announced plans to add over 1,000 professionals across its wealth franchise in Hong Kong by the end of 2025.

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!

Banks should have enough buffers and find climate transition risks manageable.
The products are now available at Eccellente by HAO Market in Singapore.
Institutional clients may accelerate time-to-market financial applications.
This was thanks to a rise in loans made to the service sector during the period.
Discussions between the two banks are at the preliminary stage.
But it reported weaker quarterly performance, largely due to its $309.8m Q3 expense.
Uncertainty over Omicron's impact may drive this slowdown.
Only 2 in 10 Singapore micro-multinationals think banks offer value for money.
The Internet boom has pushed 9 out of 10 digital merchants to accept digital payments.
It’s not as urgent as other markets with credit under-penetration, says TMRW Digital Group CCO.
The move is part of the BSP’s Digital Payments Transformation Roadmap.
Internet economy in SEA has propelled digital payments further.
The market is expected to top $83.2b in four years’ time.
The 3.26% interest rate average is its highest since November 2018.