Citigroup: Private Banking In Asia

By A. Lee Gilbert & Nigel Goodwin

Abstract

Citigroup was a leader in private banking - the provision of investment products and wealth management services to affluent and high net worth individuals. The private banking sector was growing rapidy in Asia, fuelled by the region's economic development and the subsequent accumulation of personal wealth. Clients were becoming more sophisticated and demanding and market liberalisation fostered competition between domestic and foreign private banks. Against this backdrop, Citigroup attempted to expand its private banking market share in the key markets of mainland China, South Korea and India. This case examines a fragmented market split between global giants and domestic champions. Key issues include market segmentation, strategic positioning, international expansion, market entry barriers, industry regulation, corporate governance, channel distribution, and a choice between organic growth versus acquisitions and alliances.

Issues: Capturing the HNW Segment, Branding, Private Banking

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