Citi Private Bank has formed a new group to expand its work with Asian clients in North America and named current Managing Director Ida Liu to head the group.
The new initiative, called the North America Asian Clients Group, aims to expand Citi Private Bank’s services to ultra high net worth Asian families in the U.S. Citi Private Bank plans to use the new group to strengthen the ties between its Asia and U.S. locations, including the investment opportunities it can offer clients in each region.
Citi Private Bank’s new group will first target the Los Angeles, San Francisco and New York markets, and plans to eventually expand to other U.S. locations. Citi Private Bank currently offers services to Asian clients including cross border trust and estate planning, foreign exchange and global reporting, real estate strategies and tactical trading and investment ideas.
Liu is a senior private banker at Citi Private Bank in New York. She focuses on serving ultra high net worth individuals and families, and was previously an investment banker in New York and Hong Kong. As part of her new role, she will also work with City Private Bank’s teams in Asia and Canada.
Citi Private Bank typically targets ultra high net worth clients with $25 million or more in investable assets.