Citibank UAE has announced plans to expand its assets under management (AUMS) portfolio threefold to $15 billion by 2025, and double the size of its new relationship managers (RMs) team to support client growth. Already a top provider of wealth management services in the UAE, the bank is also targeting to quadruple its wealth client base over the next five years. This is part of an ambitious “Win In Wealth” strategy growth plan.
Citigold is designed to meet the global banking and investment needs of affluent individuals with investable assets of $200,000 and above.
Dinesh Sharma, Citi Middle East head of consumer banking, said: “Clients in the UAE demand world-class advisory services as well as a global wealth proposition delivered on their terms.”
With the further investment in our platforms and talent pool, the expanded clientele will be able to book and manage their wealth across multiple jurisdictions through a single universal relationship manager. This, combined with Citi’s research capabilities, will ensure that we remain a top provider of integrated wealth management services in the country.”
Venkat Mahadevan, Citi Middle East head of wealth management, said: “We see a significant opportunity in the growing affluent segment in the UAE. As we listen to our clients’ needs, we will continue to bring to them best-in-class wealth management services and further enhance our capacity to serve their needs.”
