Citibank Korea expands wealth management

Citibank Korea CEO Park Jin-hei, center, introduces the bank’s Total Wealth Adviser system for Korean investors. / Courtesy of Citibank Korea

As the global markets increasingly face uncertainty and unpredictability with crises abruptly emerging and rattling the world, global investors are in need of much more efficient and effective management of their wealth and savings.

To meet this rising demand, Citibank Korea, a Seoul unit of Citigroup, is offering a wealth management service that can help its customers diversify their investment by using and analyzing Citigroup’s massive market data gathered since 1926.

It will use data that includes market information of the Great Depression in the US from 1929-1939 and Black Monday in October 1987 shared among Citigroup’s global research units.

With this data network, Citibank Korea has launched an upgraded service called Total Wealth Advisor (TWA), a comprehensive wealth management system based on a model

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Citi Model Portfolio developed by Citigroup’s global investment experts

that can help its customers diversify and increase their wealth.

The bank said that TWA is a new system that can offer wealth management customized to customers’ needs and conditions.

Citibank Korea CEO Park Jin-hei

It can to customize the financial goals of customers such as wealth increase, protection or retirement fund creation, and counsel them to establish diversified portfolios to achieve those goals. The bank will also categorize its customers based on their investment patterns and asset size in accordance with market conditions.

It will put its customers under three categories

High Net Worth; Affluent; and Emerging Affluent.

It has also launched Citi Priority for Emerging Affluent customers with the aim of securing potential rich customers, and provide them with services on ways to expand their investment portfolio from a long-term perspective that can meet their individual financial goals. This service is for customers with assets worth 50 million won-200 million won.

Its Citigold wealth management service for customers with assets worth 200 million won-1 billion won under the Affluent category will be offering global wealth management strategies.

Its Citigold Private Client for High Net Worth customers with assets worth over 1 billion won will provide a team of experts to manage their wealth and investment portfolios.

Citigroup’s Model Portfolio committee based in Singapore will also be standing by to give their expert opinions and advises through market analyses and forecast.