Citigold
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| Citigold | |
| Type | Subsidiary of Citigroup |
|---|---|
| Founded | 1984 |
| Headquarters | New York, USA |
| Industry | Wealth Management |
| Products | Investments |
| Website | www.citibank.com/us/cbna/citigold/ |
Citigold is the wealth management Division of Citibank, part of Citigroup. Citigold is a service aimed primarily at individuals who have the ability to invest in their products, with a minimum portfolio value no less than US$100,000 or a similar value in the local currency. Launched in 1984, Citigold has its largest presence in has a significant presence in the Middle East and Asia, but also operates in Australia and parts of North and South America. Services offered by Citigold include:
- Treasury securities
- Structured Products
- Savings Plans
- Mutual Funds and Bonds
- Deposits with favorable rates
- Travel Planning arrangements
- Investment strategy and news
Once a customer has agreed to start an account, usually they are assigned a relationship manager to handle their day to day banking needs and periodically update their portfolio holdings.
In a bid to try and lure private banking customers to their service, Citigold also has Citigold Select, which is aimed at individuals who can invest in the excess of US$500,000. Perks are probably the best at the Select level where well heeled customers can expect box seats at the Olympics, Omega watches, first class airfare, safaris and invitations to exclusive concerts for Citibank's best customers.
While Citibank did capitalize on its early mover advantage, other banks have started their own High Net Worth Service to compete with them. Other notable Competitors (they are known as the big 4 of the wealth management world) include:
- ABN Amro's Van Gogh Preferred Banking
- Standard Chartered's Priority Banking
- HSBC Premier Banking
