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The Citigold Wealth Management Service Is Like No Other

Citi Philippines retail bank head Rene Aguirre, Citi Philippines consumer business head Bea Tan, and Citi Philippines CEO Aftab Ahmed

MANILA, Philippines - In 2017, the global economy and investment markets are expected to experience fundamental changes… The Leave vote in the UK’s EU referendum and the US election outcome reflect the rise of anti-establishment and anti-globalization sentiment… Against expectations of a strong US dollar, US policy uncertainty suggests that periods of currency volatility can potentially create short-term tactical opportunities for currency investors.”

The foregoing are just some of the statements made by Citi analysts in their global outlook for 2017. Yes, we live in periods of volatility and topsy-turvy changes.

“A lot of the things that we did not expect happened in 2016. We saw the victory of Donald Trump in the US presidential election, and the strengthening of the US dollar,” Citicorp Financial Services and Insurance Brokerage (CFSI) investment product head Ramon Tejero remarked at the Citi event for Citigold clients held recently at Shangri-La at The Fort. “There was the shift of money from emerging markets to developed markets. The US dollar strength remains a key risk for emerging markets. We cannot ignore this development since we are part of the emerging markets. There is volatility ahead. People’s expectations are being challenged every day.”

“Citigold helps clients keep abreast of latest market developments, economic outlook and investment ideas. It is designed to empower clients and help them make informed and well-considered investment decisions,” Citibank managing director and consumer business manager Bea Teh-Tan noted. “Today’s event is focused on our wealth management clients and our premium banking service. After this session, we expect you to be more aware of your opportunities to help you achieve your financial goals.”

“Citibank is different from others in that we’re a global bank,” Citibank retail banking head Rene Aguirre pointed out. “With our direct global link, we are able to give global expertise as far as research is concerned. We can give you the latest information on economic trends, currency markets and stocks. We can provide regional as well as global market news. At the same time, we have the local counterpart in coming up with advice that is relevant to your needs. We have also enhanced the service in terms of speed in providing regular market insights via SMS or email as well as through Citibank Online. We are able to provide our customers live feeds about what is happening in the industry and the market, both local and international.”

“As a global brand, Citigold gives clients worldwide access,” says Citibank director for public affairs and corporate affairs Aneth Ng-Lim. With the economy going global, as a Citigold client, you can expand your investments beyond the boundaries of your home country. Citi can refer you to affiliates from around the world that can provide international investment research and insight. For expatriates who move country every three years or so for a new assignment, you don’t have to start from scratch when you want to get a credit card or open a checking account, for example. The Citi offers Global Personal Banking, including cross-border account opening privilege when or where you relocate. For those who send their children abroad, or who travel frequently whether for business or leisure, Citibank ensures access to your funds wherever you go. “It is more convenient, and our clients feel safer,” Lim says. “It’s like your bank travels with you.”

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“Citigold is Citi Philippines’ wealth management service. It is the country’s pioneer and Asia’s leading wealth management brand,” Aguirre remarked. “Today, Citigold is a proposition that has evolved from when we first launched it. It is no longer just about no queues and private banking spaces. It’s now about wealth management and advice. We’ve come up with a team-based approach. It’s not just a designated relationship manager (RM) but a team of experts, and a dedicated Wealth Management Team to help you manage your account.”

“Citigold is not a product but a proposition. To be a Citigold client, you need to have a total balance of P4 million with Citibank, so that puts you in a different category,”Aguirre explains. “Citigold is about asset allocation, where to place your money between cash and investments, to improve your return or reduce your risk. We want the best value for our clients.” 

To help you diversify your investments, a new tool offered is the Citi Model Portfolio. “Customers have varying risk appetites, from very conservative to the very aggressive. We study and understand their risk profile, and from that, we come out with a model portfolio,” Lim explains. “It serves as an asset allocation tool for periodic evaluation of your existing and prospective funds. With this close monitoring of your funds, you will be able to make a clearer assessment of what you want to do with your investments whenever the market shifts and turns.”

“In order for us to offer a complete wealth advisory to our customer, protection plays a key part,” Lim adds. “We now provide the Citi Insurance Gap Calculator which will help you determine in less than three minutes if you have done enough to protect yourself and your loved ones.”

“We also have what we call the ‘flight to quality,’” Lim remarks, “because right now, the market is very volatile. Who are the people you trust that you can go to?”

“What I have seen through the years from testimonials of clients is the reliability of their relationship with Citi,” says Tan, who is going on her 19th year with the bank. “We help them in terms of wealth preservation. The global aspect gives them more security, even while we’ve seen different financial and global crises. We see our customers coming to us and saying, we know if our money is with Citi, it’s safe.”


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