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Citi Takes Top Honors as the "Best Private Bank" in Indonesia


Jakarta – Citi has been named as the “Best Private Bank” in Indonesia in Euromoney magazine’s Polls for Excellence in Private Banking 2009.

The prestigious award confirms Citi’s position as the leading and most respected wealth manager in Indonesia as it was named as the best provider across all four wealth segments:

* Super affluent (USD 500,000 to USD 1 million of Assets under Management (AUM))
* High Net Worth I (USD 1 million to USD 10 million of AUM)
* High Net Worth II (USD 10 million to USD 30 million of AUM)
* Ultra High Net Worth (more than USD 30 million of AUM)

The Euromoney Private Banking Awards are based on industry peer voting and are among the most prestigious recognitions in the banking industry worldwide. They define banking excellence in global categories and across more than 100 individual countries. The selection criteria for the winning institutions are based on outstanding performance, quality service and innovation.

In Indonesia, Citi provides wealth management services to affluent clients with a minimum of USD 100,000 in Assets under Management through its Citigold offering while Citi Private Bank provides bespoke private banking services to high net worth individuals and families with a minimum net worth of USD 10 million.

“We are delighted and honored to have been ranked as the leading wealth manager in Indonesia. The country’s vibrant entrepreneurial culture, strong underlying economic fundamentals, continued modernization of its financial sector and increasing sophistication of its middle class in their demand for wealth management services will ensure that Indonesia remains a priority for Citi’s wealth management businesses,” said Shariq Mukhtar, Citi Country Officer for Indonesia.

Apart from being ranked as the “Overall Best Private Bank,” Citi was also named by its peers as “Best Provider” in the 10 other private banking categories, including Relationship Management, Privacy and Security, Family Office Service and Specialized Services for Corporate Executives, Entrepreneurs as well as Inherited Wealth and Business.

In addition, Citi Private Bank was judged by other wealth managers to be the best provider of investment services in the Asia Pacific region across a comprehensive range of asset classes, including Equity Portfolio Management, Managed Futures, Foreign Exchange, and Real Estate.

Mr Mukhtar added: “This is a tremendous achievement and demonstrates that Citi continues to be judged favorably in terms of the quality of advice, service and product capabilities as well as the breadth and depth of our banker-client relationships. During this challenging period of heightened market volatility and economic distress, we will continue to work in close partnership with our clients to ensure that their businesses and portfolios are well-positioned to weather the difficult environment. ”


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