Citibank Taiwan marks relocation of Chiayi Branch
Citibank Taiwan celebrated the relocation of its Chiayi Branch in southern Taiwan today with an opening ceremony attended by Victor Kuan, Citibank Taiwan Chairman; Yunny Lee, Citibank Taiwan Head of Retail Banking; Lin Chien-chih, Senior Advisor to President Ma Ying-jeou; and Huang Min-hui, Mayor of Chiayi City.
During the ceremony, Citibank also announced the launch of its Institutional & High Net Worth Fund Platform, a new service that provides Citigold Private Clients (CPC) access to high-conviction unit trusts from top-tier global fund managers, in particular share classes of funds that have been traditionally available to institutional and ultra high net worth clients. Previously, only institutional investors could purchase these products with a minimum investment of $500,000 but now, CPC clients can avail these products with a minimum investment of $100,000.
Victor Kuan said: “Chiayi City has many historical sites and tourist attractions and is the starting point of the Alishan Forest Railway. For the last 22 years, Citibank Taiwan has been committed to serving the residents of Chiayi City. We converted the Chiayi Branch into a Smart Banking branch, reaffirming Citi’s long-term commitment to invest in Taiwan, establishing a strong heritage on the island, and offering our clients world-class financial services.” “Citibank Taiwan launched CPC in 2011. One year later, we have set up a wide range of facilities in our branches, and our staff is ready to provide the best service. We are always coming up with new value-added products and services for our CPC clients. By leveraging our global platform, we are now able to bring Institutional & High Net Worth share-classes to these clients,” said Yunny Lee.
The Institutional & High Net Worth Fund Platform includes nine selected funds, ranging from stock funds to bond and moneymarket funds. Clients who subscribe to these will enjoy a lower sales charge and fee calculated on the value and period of the investments held. Citi will also offer a range of high-net-worth funds to meet customers’ diverse financial needs in the future.
For two centuries, Citi has financed some of the world’s most revolutionary projects, including the Panama Canal in 1904 and the U.S. Space Shuttle Program in 1995. In Taiwan, Citibank has pioneered banking in the domestic market through developments.