Citigold
Encyclopedia
Citigold is the mass affluent service 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 $50,000 or a similar value in the local currency. Launched in 1984, Citigold has a significant presence in the Middle East
and Asia
, and also operates in Australia
and parts of North and South America
. Services offered by Citigold include:
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, safari
s 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 Four" of the Wealth Management world) include:
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
, part of Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
. 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 $50,000 or a similar value in the local currency. Launched in 1984, Citigold has a significant presence in the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
and Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
, and also operates in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
and parts of North and South America
Americas
The Americas, or America , are lands in the Western hemisphere, also known as the New World. In English, the plural form the Americas is often used to refer to the landmasses of North America and South America with their associated islands and regions, while the singular form America is primarily...
. Services offered by Citigold include:
- Treasury securitiesTreasury securityA United States Treasury security is government debt issued by the United States Department of the Treasury through the Bureau of the Public Debt. Treasury securities are the debt financing instruments of the United States federal government, and they are often referred to simply as Treasuries...
- 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
Portfolio (finance)
Portfolio is a financial term denoting a collection of investments held by an investment company, hedge fund, financial institution or individual.-Definition:The term portfolio refers to any collection of financial assets such as stocks, bonds and cash...
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
Omega Watches
Omega SA is a Swiss luxury watchmaker based in Biel/Bienne, Switzerland. Omega is one of the most well-known and recognized watches in the world. Omega watch was the choice of NASA and the first watch on the Moon in 1969. Omega was the official timekeeping device of the Olympic Games. James Bond...
, first class
First class travel
First class is the most luxurious class of accommodation on a train, passenger ship, airplane, or other conveyance. It is usually much more expensive than business class and economy class, and offers the best amenities.-Aviation:...
airfare, safari
Safari
A safari is an overland journey, usually a trip by tourists to Africa. Traditionally, the term is used for a big-game hunt, but today the term often refers to a trip taken not for the purposes of hunting, but to observe and photograph animals and other wildlife.-Etymology:Entering the English...
s 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 Four" of the Wealth Management world) include:
- ABN AmroABN AMROABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis...
's Van Gogh Preferred Banking - Standard Chartered's Priority Banking
- HSBCHSBCHSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
Premier Banking