New Office
Citigroup Launches Six Full-Service Offices In Hong Kong

Citigroup has opened six full-service retail offices in Hong
Kong, offering a full range of retail banking, personal lending,
and wealth management services.
The move increases the bank's network in Hong Kong to 32
branches, the company said in a statement yesterday.
Citibank Hong Kong will also be launching a host of new products
and services designed to help clients grow their wealth starting
this month, including a new deposit product called Step-Up
Interest Account, a permanent waiver of monthly custody service
charges for US and HK securities and deposit of securities
fees.
"Hong Kong is an important market for Citigroup globally and we
are proud of our more than 108 year history in the territory. We
remain fully committed to the local market and will continue to
grow our presence and make it easier and more convenient for our
customers to access our world-class suite of retail and wealth
management products and services," said
Vikram Pandit, chief executive officer of Citigroup, in a
statement.
At the launch ceremony yesterday, country business manager and
CEO of Citibank's global consumer group (Hong Kong)
Weber Lo said that all of the bank's expansion initiatives of
late are "significant steps forward in delivering an exceptional
service experience to our clients, whether they are affluent or
emerging affluent."
One new branch will be located in Tsim Sha Tsui, while the other
five branches, in North Point, Tuen Mun, Sha Tin, Tai Po, and
Kwai Fong, are upgraded versions of existing branches.
As reported previously by WealthBriefingAsia, Citigroup
has been very vocal about its plans to expand its presence in the
region, particularly on the fast-growing emerging markets sector.
In 2009, Asia accounted for 23 per cent of the bank's total
revenues, which translates to around $14 billion. Citi operates
in 18 countries in the region.