Citi offers a new career for consumer banking talent aspiring to become private bankers.
Earlier this year, the group combined its wealth management and private banking businesses to form Citi Global Wealth. The merger of the two companies offers a structured career path for talents working in consumer banking to become private bankers and relationship managers with very high net worth individuals.
Cecilia Lam, Talent Acquisition – North Asia Cluster Lead at Citi, explains: âThrough Citi Global Wealth, we have a wealth continuum opportunity that sets us apart from other banks. We offer a career path where individuals from consumer banking can progress to private banking. “
This change is accompanied by Citi’s multi-year Win in Wealth strategy, where it plans to recruit 1,100 additional relationship managers and private bankers in Asia-Pacific over the next four to five years to support its ambition to increase client assets under management to $ 150 billion by 2025.
The importance of Asia-Pacific to Citi is further underscored by the fact that Hong Kong and Singapore represent two of its four centers of wealth outside of the United States.
Angela Chan, a Citi Private Client Banker, saw firsthand how Citi supports her talents in the transition from consumer banking to private banking.
She joined Citi as an operations staff member in 1999, before moving up the sales ranks to become relationship manager for Citi Gold, the bank’s first consumer offering, and finally Citi Private Client Banker.
During her trip, she says she received full support and training. âThe Wealth Continuum career path has taught me a lot. I received extensive on-the-job training including product, sales and communication skills.
Charles Sit, a Citi private banker serving high net worth clients, has also moved from retail banking to private banking.
He joined Citi to work as a relationship manager in one of its call centers after completing a training program at another bank. From there he became an investment advisor, before moving up the ranks to Citi Private Client and Citi Private Bank.
âCiti really encourages staff to look for opportunities within the bank. We do an annual career plan review which helped me make the transition as they constantly informed me of opportunities outside of my department, âSit said.
He adds that while his career may seem unusual to others, it is normal at Citi as Citi Global Wealth has consolidated the bank’s platforms, creating a clear career path for the bank’s staff.
Besides the clear career path, Citi Global Wealth also offers a number of other benefits. Sit explains that this enables collaboration between different departments, allowing him to leverage Citi’s strengths to provide better service to his customers and to learn from his colleagues. âThe whole experience allows us to become better banking staff and become a trusted advisor,â he says.
It also means that talent moving from consumer banking to private banking is already familiar with Citi’s system and product offerings, making it a seamless transition to their new role. At the same time, the merger of the two activities allows account managers to stay with their clients as their assets increase.
Following the creation of Citi Global Wealth, the bank is looking to fill a range of roles in Hong Kong. On the consumer side, it is recruiting relationship managers and private client bankers for its Citi Gold proposition, which targets its high-profile consumer clientele. She is also looking for investment and treasury specialists, as well as talent for front-line roles, such as agency directors and agency operations directors, and middle office roles, including senior managers. product managers, marketing managers and segment managers. On the private banking side, it is looking for private bankers to serve very wealthy clients.
Lam says Citi wants to recruit people who are ambitious, driven, and very customer-oriented. Citi is a very collaborative environment, so they also need to have a good team spirit and be ready to speak up when needed. In addition, they must speak English, Mandarin and Cantonese.
To anyone considering applying to Citi to take advantage of the Wealth Continuum, Chan says, âDon’t think about it, just do it! Citi Global Wealth will give you a good career path.
Sit agrees: âIf you want to work at a bank that devotes a lot of resources to helping you grow, apply. “
In October, Citi will host a virtual business event for Hong Kong. The event will give talent looking to join the bank the opportunity to hear senior management talk about Citi Global Wealth, and other bankers discuss what it’s like to work at Citi and the opportunities offered by the continuum. of wealth.
The event is aimed at mid-career talent in Hong Kong looking to join Citi, and after the morning sessions there will be opportunities for interested candidates to be interviewed for a position in the afternoon.
If you would like to participate in the Virtual Career Event, please click here.