We transitioned from consumer banking to private banking. Here’s how Citi’s wealth continuum career path can help you do the same
Citi has a new career path for talents in consumer banking who aspire to being private bankers.
Earlier this year, the group combined its consumer wealth and private bank business to form Citi Global Wealth. The integration of the two businesses offers a structured career path for talents working in consumer banking to become private bankers and relationship managers to ultra-high-net-worth individuals.
Cecilia Lam, Talent Acquisition – North Asia Cluster Lead at Citi, explains: “Through Citi Global Wealth we have a wealth continuum opportunity that sets us apart from other banks. We are offering a career path where individuals in the consumer bank can move into the private bank side.”
The wealth continuum career path is in line with Citi’s multi-year Win in Wealth strategy, under which it plans to recruit an additional 1,100 relationship managers and private bankers in Asia Pacific during the next four to five years, to support its ambition to grow client assets under management by US$150 billion by 2025.
The importance of Asia Pacific to Citi is further highlighted by the fact that Hong Kong and Singapore account for two of its four wealth hubs outside of the US.
Angela Chan, a Citigold Private Client Banker, has first-hand experience of how Citi supports its talents in transitioning to different roles throughout their career journeys.
She joined Citi as a member of operations staff in 1999, before working her way up through sales to become a relationship manager for Citigold, the bank’s premier consumer offering, and finally a Citigold Private Client Banker.
During her journey, she says she received extensive support and training. “The wealth continuum career path enabled me to learn a lot. I was given extensive on-the-job training, including in products, sales and communication skills.”
Charles Sit, a Citi Private Banker serving ultra-high-net-worth clients, has also made the transition from consumer banking to private banking.
He joined Citi to work as a relationship manager at one of its call centres after completing a trainee programme at another bank. From here he transitioned into being an investment counsellor, before working his way up to Citigold Private Client and Citi Private Bank.
“Citi really encourages staff to look for opportunities within the bank. We have an annual career plan review, which helped me make the transition, as they kept updating me on opportunities outside my department,” Sit says.
He adds that while his career may seem unusual to others, it is normal at Citi, as Citi Global Wealth has unified the bank’s platforms, creating a clear career path for staff within the bank.
Alongside the clear career path, Citi Global Wealth also offers a number of other advantages. Sit explains it enables collaboration across different departments, enabling him to leverage Citi’s strengths to deliver better service to his clients and learn from his colleagues. “The whole experience enables us to become better banking personnel and further equip ourselves into being a trusted advisor,” he says.
It also means that talents moving from consumer banking into private banking are already familiar with Citi’s system and product offerings, making it a smooth transition to their new role. At the same time, the integration of the two businesses enables relationship managers to stay with their clients as their wealth grows, and can serve the clients seamlessly along the wealth continuum.
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 Citigold proposition, which caters to its top tier consumer client group. It is also looking for investment and insurance specialists, as well as talents for frontline roles, such as branch managers and branch operations managers, and middle office roles, including product managers, marketing officers and segment managers. On the private banking side, it is looking for private bankers to serve ultra-high-net-worth clients.
Lam says Citi wants to recruit people who are ambitious, driven and very client focused. Citi promotes a collaborative work environment, so they must also be good team players and willing to speak up if necessary. In addition, they should speak English, Mandarin and Cantonese.
To anyone thinking of applying to Citi to take advantage of the wealth continuum, Chan says: “Don’t think about it, just do it! Citi Global Wealth will offer you a good career path.”
Sit agrees: “If you want to work in a bank that devotes a lot of resources to helping you grow, make the application.”
If you would like to explore opportunities with Citi Global Wealth, please click here.