Citibank Taiwan is rolling out its Citigold Private Client service for high net worth individuals with at least NT$30 million (around $1.04 million) of investable wealth, making Taiwan the fourth Asian jurisdiction to operate the service.

The CPC service “integrates the exclusivity of Citigroup global network that provides holistic and personalized service assisting clients to manage its overall assets”, the bank said in a statement.

The CPC service is already provided by Hong Kong, China and Singapore.

“As the initiator and market leader of Wealth Management in Taiwan, we have been seeking for innovation with continuous efforts. For example, we launched Citigold in 2001 that demonstrated the concept of ‘Citigold wealth management triangle’ and ‘360∘wealth management’ to provide an overall evaluation and management to client assets,” said Yunny Lee, head of Citibank Taiwan Retail Banking.

According to the Capgemini-Merrill Lynch World Wealth Report 2009, combined wealth of Asia Pacific's HNWIs is estimated to grow at an annual rate of 12.8 per cent by 2013, surpassing the global average of 8.1 per cent.

“As recent wealth surveys indicate, the number of High Net Worth individuals in Taiwan is expected to grow by 15-20 per cent over the next three to five years,” Salman Haider, region head of Citigold Private Client, Citibank Asia Pacific, said. “By the year-end, we plan to expand our footprint to India, Korea and Japan,” he added.