Citi is set to open its largest wealth advisory hub for affluent clients in the world in Singapore in December. Occupying 30,000 square feet across four floors at 268 Orchard Road, the hub will have over 30 client advisory rooms and flexible space for work and events.
Called Citi Wealth Hub at 268 Orchard, it will house over 300 relationship managers and product specialists to cater to the bank’s Citigold and Citigold Private Client customers. Citigold is the bank’s private wealth service for clients with a minimum of US$200,000 in assets. Citibank’s International Personal Bank clients visiting Singapore who wish to transact cash services may also use the hub.
The hub is part of the bank’s efforts to attain double-digit growth in market share and number of clients in the wealth segment over the next few years. Under its retail strategy, Citi serves customers’ simple transactional needs digitally together with a wealth advisory hub for deeper wealth conversations. Currently, close to 90% of the bank’s retail banking customers are using digital platforms for their daily banking needs, while less than 1% of transactions occur in Citi branches.
According to a press statement, the hub features a biophilic design “to enhance a visitor’s connectivity to nature”. It will also be LEED-certified (Leadership in Energy and Environmental Design is the most widely used green building rating system in the world).
Client meeting rooms will be named after national flowers and trees found in countries and jurisdictions where Citi operates, with some transformed into “garden pods”. Safe distancing and hygiene measures will be observed at the bank. Citi says it plans to open more such wealth advisory hubs in the future.