Citibank (Hong Kong) Ltd. is offering financial planning and analysis for high net worth individuals, the Hong Kong Economic Journal reported Monday.
The bank will tap its investment banking team to provide advice to its Citigold private clients on comprehensive stock investments.
The service will be similar to that for portfolio investment funds, the report said.
Trials started in October.
The service is designed for clients with assets of US$1 million or more.
Citibank has pitched the service to more than 100 Citigold customers with assets of at least HK$1 million (US$129,000), half of whom said they will increase their holding to meet the threshold.
Angel Ng, head of retail banking products for Hong Kong, said Citibank enjoys first-mover advantage in providing investment banking services to retail clients.
Last year, it set up an investment banking team to advice high net worth clients on investment risk, industry trends and other issues, part of a plan to double its client numbers in three years.
Translation by Vey Wong
– Contact us at [email protected]