Citi Private Bank Appoints Ida Liu as Head of North America Asian Clients Group

Citi Private Bank today announced the appointment of Ida Liu, Managing Director, as head of its newly formed North America Asian Clients Group. The group looks to capture additional market share from one of the world’s fastest growing ultra high net worth segments and expand the private bank’s coverage and services to Asian ultra high net worth families, focusing first in New York, San Francisco and Los Angeles. The group will add top industry talent as it builds its client base and expands to other U.S. markets.

“Citi Private Bank is uniquely positioned to serve the Asian ultra high net worth market with our unmatched global presence and all encompassing wealth management platform," said Ms. Liu. “We provide a highly customized set of solutions for our Asian clients, including tactical trading and investment ideas, real estate strategies, cross border trust and estate planning, foreign exchange and global reporting,” she continued.

With a presence in Asia for over 100 years, Citi’s global reach and comprehensive platform offer a significant competitive advantage. Today, Citi does business in 160 countries, with 76 locations across Asia in 19 markets. Working with one third of the world’s billionaires, Citi is the largest wealth manager in Asia Pacific and was ranked the Best Private Bank in Asia in 2011 by FinanceAsia. The North America Asian Clients group will leverage Citi’s existing and expansive presence in Asia, by linking ultra high net worth clients in the U.S. to Asian markets and vice versa, in order to better serve clients globally.

“Ida is the ideal individual to lead this initiative, given her global work experience and extensive investment and client management background," said Peter Charrington, Chief Executive Officer of Citi Private Bank, North America. “Under her leadership, we are well positioned to deliver solutions that meet the unique needs and aspirations of this market. Over time, we expect to be the dominant wealth manager serving Asian ultra high net worth families and individuals across the major cities of the U.S. and Canada."

“For many of the families we work with, our global presence and experience, especially in Asia, coupled with our comprehensive wealth management capabilities make a compelling proposition,” said Deepak Sharma, Chairman, Citi Private Bank, who is based in Singapore. “North American clients with ties to Asia feel that Citi understands their needs. They tend to be very global in their investment orientation and are attracted to international capital markets. Likewise, we are well positioned to help clients resident in Asia to navigate and invest in North American markets.”

Ms. Liu is a Senior Private Banker based in Citi Private Bank’s New York office and focuses on providing strategic advice and tailored solutions to ultra high net worth individuals and families. Ms. Liu has extensive global work experience and was previously an investment banker in both New York and Hong Kong. She is a recipient of the 2011 Top 50 Outstanding Asian Americans in Business award and also serves as an Advisor to Asia Society’s President’s Circle and Asia Foundation’s Lotus Circle, among other affiliations. In leading the North America effort to further build a domestic Asian client base, she will work closely with the Citi Private Bank teams in Canada and Asia, which have strong penetration into the global Asian high net worth segment.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.