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Citi today said the client assets at its wealth management businesses in Asia have topped the quarter of a trillion dollars mark for the first time. At the end of May, 2014, Citi Asia had $251 billion in client assets under management, up 10per cent from a year earlier.
The growth was driven primarily by an increase in new clients and net new funds across the bank's full wealth continuum platform that serves customers rangingfrom the emerging affluent to the region's billionaires.
Citi's wealthmanagement offering in the region has differentiated services, advisory andproducts.
"Theability to offer retail investors access to world class institutional funds hasunderpinned the growth in assets. As Asia's leading wealth manager, the growthis also testament to the confidence of our clients have in our brand," Stephen Bird, Citi's chief executive officer for Asia-Pacific region, said in astatement.Citioffers wealth management services to over 630,000 customers in 13 countriesacross Asia.
