Wikipedia
Citigold is a company whose target demographic group are wealthy upper-class investors, whose assets are worth no less than US$150,000 or a similar value in the local currency. Launched in 1984, Citigold, a subsidiary of the multinational financial corporation Citigroup has high market capitalisation in the Middle East and Asia, and also operates in Australia and parts of North and South America.
- Treasury securities
- Structured Products
- Savings Plans
- Mutual Funds and Bonds
- Deposits
- 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 lure private banking customers to their service, Citigold institutionalised a programme called Citigold Select, which helps the bank prioritise clients willing and able to invest in the excess of US$500,000 over other customers. Perks are maximised the Select level, where perks offered include box seats at the Olympics, Omega watches, first class airfare, safaris and invitations to exclusive concerts for Citigroup's best customers.
While Citigroup took advantage of its position as the first financial corporation to market this type of service, other banks have started their own High Net Worth Service to compete with them. Other notable competitors (they are known as the "Big Four" of the Wealth Management world) include:
- ABN Amro's Van Gogh Preferred Banking
- Standard Chartered's Priority Banking
- HSBC Premier Banking