Awards for Distinction 2015 – Best International Private Bank – India

Citi Private Bank

Bassam Salem, Chief Executive Officer, Asia Pacific, Citi Private Bank

Bassam Salem, Chief Executive Officer, Asia Pacific, Citi Private Bank

In a nation of over one billion people, home to 156,000 high net worth individuals (HNWIs) and US$612 billion of HNWI wealth, India has proven to be a lucrative opportunity for private banks in Asia. Pegged on the economic success and promise seen from last year’s newly-elected government, Indians are returning home to explore sectors of the market such as venture capital space, hence creating a deep pool of talent for the private wealth industry.

One of its leading markets and growth engines for its Asia operations, Citi Private Bank’s India unit has distinguished itself from competitors eying the segment through its commitment to building a sustainable onshore platform in India. In so doing, it has built a formidable private banking business in a fiercely competitive space.

With offices in Mumbai, Delhi and Bangalore, India has contributed to a 45% growth in Citi Private Bank’s Asia assets under management (AUM). The bank prides itself in possessing a strong platform that allows it to leverage not just its dedicated team of private banking specialists but also its multi-asset class solutions that has managed to keep what is regionally relevant within core asset classes.

In addition to providing strong navigation through the capital markets, Citi Private Bank has also differentiated itself when catering to ultra HWN Indians with its investment platform. These include art advisory to help clients with personalised acquisition strategies, private aircraft financing with in-house specialists dedicated to evaluating client travel needs and sports finance with both debt offerings and advisory services.

Citi Private Bank’s longstanding history with India, coupled with its robust global investment platform and advisory offerings, makes it the deserving 2015 winner of the Best Private Bank – India International Award.