Whether they have US$10million or US$5billion, wealthy people are all concerned about the location of their investments, from a tax and legal perspective, and how best to protect, enhance and structure assets to eventually pass on to their beneficiaries.
These are challenges that a global wealth structuring consultant with Citigroup Private Bank will tackle on behalf of individuals and families across Asia-Pacific and the Middle East with a minimum net worth of US$10million.
Michael Troth, the managing director and head of global wealth structuring at Citigroup Private Bank, said clients came under three broad categories: inherited wealth, entrepreneurs and senior business executives. According to the bank's internal research, its 26,000 global clients include 6,500 across Asia-Pacific and the Middle East, and half of Asia's billionaires.
The senior opening in the Hong Kong office is due to expansion across North Asia, and applicants should have at least 10 years' legal or tax experience and fluency in Putonghua.
The appointee will be responsible for creating a holding vehicle for a client's wealth and for ensuring a smooth transition of that wealth to beneficiaries.
He or she will work with existing clients and will not be expected to source new business. The successful candidate will also have an extensive global network of offices with expert resources at their fingertips to complement their own skills.
