Best for UHNW in Hong Kong 2023
Citi Private Bank
There are institutions that claim to offer customized private banking that crosses borders everywhere – and there are the very few who can actually deliver on this claim. Citi Private Bank is easily in the latter camp, earning Asiamoney’s award for best private bank for ultra-high net-worth clients in Hong Kong.
Citi is as global as its clients. Serving worldly and wealthy individuals and families, and doing it well, makes the New York-based firm one of the world’s fastest-growing private and wealth management banks. With over $740 billion in client assets in its global wealth management business, it is also among the biggest private and wealth management-focused banks.
Under the leadership of Steven Lo, regional head for Asia Pacific at Citi Private Bank, the firm provides best-in-class financial services to the entire continuum of wealthy clients in Hong Kong. But it is in the ultra-high net-worth bracket that Citi really shines.
In 2020, the bank formed the Citi Private Capital Group to build on the private bank’s long-established family office advisory practice. It added fresh intellectual firepower to previous initiatives like the 2013 creation of the Global Investment Lab, a team dedicated to providing institutional-level portfolio analytics to eligible private clients.