Citi Boosts Wealth Ambitions With Family Office Hire

The wealth planning specialist catering to ultra high net-worth individuals began her career 16 years ago as a wealth management associate at Citi.

Faye Ong, previously head wealth planning for South Asia at Union Bancaire Privee, has rejoined the bank as head of the family office advisory, private capital group, according to a LinkedIn post on Wednesday.

Citi has been investing in growing its offerings for family offices, which have proliferated in Singapore in recent years, that reported the news, noted.

A bank spokesperson confirmed the hire.

Citi has placed its bets on four wealth hubs, which includes Singapore, as it consolidates its operations globally.

Citi has previously stated its intentions to double its wealth management market share in Singapore from the current 5 percent, and triple the number of clients by 2025. To achieve this, it is looking to hire over 330 relationship managers.