Citibank is opening two satellite wealth advisory hubs in Singapore, reinforcing its wealth management business in the country.

Slated to open by the first quarter of 2024, the Parkway Parade and Holland Village facilities will allow the bank’s Citigold and Citigold Private Client customers to better engage with their relationship managers while having access to a team of product specialists.

“Singapore is one of Citi’s four global wealth hubs and we remain optimistic about its wealth management industry prospects,” says Citibank Singapore chief executive officer Brendan Carney. “We are firmly committed to serving the thriving affluent segment here, having seen strong growth in new clients over recent years.”

The two new hubs will adopt the bank’s hybrid service model, with day-to-day transactions done via mobile app and one main hub plus two satellites for wealth management conversations, Carney explains.

Strategically located at Parkway Parade Level 22 and the One Holland Village integrated development, the two branches expand Citibank’s physical footprint in both locations while complementing the main wealth hub at 268 Orchard.

The Parkway Parade hub will increase the bank’s presence there by more than 60% in floor area, while the One Holland Village office is about 80% bigger in size.

Image: An artist impression of Citibank Singapore’s Holland Village satellite wealth hub.