[The content of this article has been produced by our advertising partner.] When Citi first established its presence in Hong Kong in 1902, there were just a handful of foreign banks in the fledgling city. Citi was one of the first American financial institutions to see the potential of this former fishing village that has developed into an international financial center. The 120 years since has been a period of many firsts for Citi in Hong Kong. The city is now one of Citi’s key growth markets and global wealth hubs. Client-centric Wealth Management Ecosystem In the age of online living, Citi is providing innovative banking solutions to deliver its proposition of establishing a digital ecosystem that is client-centric, driven by mobile engagement and client obsession – a determination to create new client experience and value. Built upon the key pillars in its digital transformation – platform and ecosystem, engagement, client experience – Citibank Hong Kong spotlights the simplicity and convenience of its API-powered services, in addition to actively engaging clients by addressing their pain points. Across the Wealth Continuum Building the right digital platform is particularly imperative to its wealth services. In 2021, Citi created Citi Global Wealth, an integrated platform serving clients across the wealth continuum, from the affluent segment to ultra-high net worth clients. This is where the concepts of high-touch and high-tech, Citi Global Wealth’s two-pronged strategy, come in. Underscoring personal attention and service, high-touch refers to the advisory-based wealth management service with bespoke solutions, while high-tech centers on integrated banking services that answer the needs of the affluent. First Citi Global Wealth Center in Real and Virtual Worlds In November, Citi unveiled its first Citi Global Wealth (CGW) Center globally in Hong Kong to support the growing financial needs of Citi Private Bank (CPB) and Citigold Private Client (CPC) clients. The CGW Center underlines Citi’s commitment to invest and support clients in Hong Kong. The Center’s digital twin, Citi Digital Wealth Center, was simultaneously launched in the Metaverse for clients to visit and engage virtually. The bank’s other digital innovations were showcased at the 2022 Hong Kong FinTech Week, including digital solutions from Treasury and Trade Solutions and Securities Services under Citi’s Institutional Clients Group (ICG). ICG offers cross-border financial services for corporations, financial institutions, institutional investors, and public sector clients. Celebrate 120 Years The opening of CGW Center was the crescendo of Citi’s 120th anniversary celebrations, which commenced with the branding campaign themed “For the Love of Progress” in its premises, followed by other celebratory events. Towards Net Zero As a global bank, Citi’s ESG agenda reflects its role and responsibility to help solve many of society’s toughest challenges, and it is a part of its business model, and embedded in its products and services. Sustainable progress at Citi is driven by its commitment to advance solutions that address climate change around the world in support of the transition to a low-carbon economy. Recognizing the need for urgent action, Citi has set out its Sustainable Progress Strategy focused on the low-carbon transition, climate risk and sustainable operations. The bank has committed to net zero greenhouse gas by 2050, which includes net zero associated with its financing by 2050 and net zero for its own operations by 2030. It intends to collaborate with clients to develop credible plans and transition to low-carbon economy together. In Hong Kong, Citi reached its goal to source 100% renewable electricity to power its operations in 2020 and installed a hybrid renewable energy system on the rooftop of Citi Tower in Kowloon East in 2021. Creating Positive Impact in the Community Sustainability is also achieved through socially responsible actions. Citi Foundation strives to achieve positive impact in the society and improve the lives of those in low-income communities through the "More than Philanthropy" approach. With its 120-year heritage in Hong Kong, Citi is already a part of the social fabric. It has worked with numerous local charities and supported many community initiatives. One of its foci is to create economic opportunities for the young people in Hong Kong. To this end, it runs internships, competitions, and summits to get a better understanding of the issues faced by youths, provide experience and training for future careers, and inspire innovation. Hong Kong has been and continues to be an important market for Citi. Building on its rock-solid foundation, Citi will advance its mission of enabling growth and economic progress by utilizing its global network, world-class wealth management platform and superb digital capabilities.
