SINGAPORE – Citibank Singapore is pulling out all the stops to grow its wealth business, including expanding privileges for high-net-worth customers and tapping artificial intelligence, with efforts aimed at strong client assets growth.In 2025, Citibank Singapore saw double-digit growth in revenue and client investment assets. The strong performance sustained into the first quarter of 2026, with the bank reporting year-on-year growth in revenue and client investment assets.This relates to its Citigold and Citigold Private Client segments. Citigold requires a minimum of $250,000 in investible assets, while the higher-tier Citigold Private Client segment requires at least $1.5 million.“Singapore is one of the most competitive wealth markets globally, and it’s also where the bar is being raised. Clients want more than access; they want clarity, conviction and connectivity across markets,” Yeo Wenxian, Citi head of wealth for Asia South and Citibank Singapore chief executive, told The Straits Times.Citi Wealth manages over US$1 trillion (S$1.3 trillion) in total client balances, including investments, deposits and loans.While this is a formidable sum, the bank’s strategy is heavily focused on capturing a larger share of the estimated US$5 trillion held elsewhere by its existing clients.“What we anticipate is that, as we roll out a wider set of investment solutions and better client experiences, we’ll see our ability to move that US$5 trillion into Citi,” said Yeo.To attract wealthy clients, the bank evolved its offerings beyond traditional financial solutions, such as a range of exclusive privileges curated for Citigold Private Client customers, introduced in 2026.Clients considering international education options for their children, for instance, can tap Crimson Education, ED-SG and Onwards Education Consultancy for guidance on identifying schools and navigating the complex admissions processes in leading institutes of higher learning.Citi said this move reflects how high-net-worth families are increasingly looking to their wealth managers not just for financial guidance but also for more holistic considerations – from personal well-being to securing the right academic path for their next generation.The bank will broaden its client benefits to include more lifestyle and wellness services, alongside its core wealth proposition.“We believe that effective wealth management involves supporting our clients’ life goals and aspirations and being part of their journey,” said Yeo.High-net-worth clients can also access alternative asset classes, including private equity and private infrastructure, through partnerships with global private market firms Blackstone, Blue Owl and KKR.With access to alternative asset classes traditionally reserved for institutional investors, Citigold Private Clients can diversify their portfolios and capture opportunities for long-term growth.Delivering outcomes to clients and helping them reach their wealth goals will translate into more client assets being invested with Citi, said Yeo.The Middle East conflict and overall optimism in Asia have also drawn investors to safe-haven Asia, with banks in Singapore seeing strong inflows of wealth and increased demand for private banking services.Citi plans to hire about ​100 private bankers globally, alongside roughly 400 other specialists, as it seeks to expand its wealth business in Asia, the bank’s global wealth head Andy Sieg said at the bank’s investor day event in May.Sieg said that Citi’s private bank business in Asia is growing faster and generating higher productivity than in other regions, according to a Reuters report.Citi declined to disclose Singapore-specific headcount growth targets when asked.As banks increasingly pivot to wealth management as falling interest rates reduce profits from lending, Citi sees artificial intelligence as an opportunity to leapfrog others and drive its next phase of growth in its wealth business.The bank is rolling out new AI-powered tools such as Citi Sky – aimed at delivering timely guidance for clients, including prompts and market insights. The agentic AI system available through the Citi mobile app features a virtual human avatar that clients can converse with in real time to ask financial questions.Citi Sky will first be made available to Citigold clients in the US. Initially available in English and Spanish, the digital assistant will expand to additional languages over time.With the self-serve function, Yeo noted that the tool will be useful in the affluent segment, so clients can get an immediate response.“Sometimes, you may not be able to reach your adviser beyond standard banking hours. But now you have an AI-powered tool that you are able to access 24/7 – it completely changes the client experience,” she said.Yeo said the focus should be on using AI to elevate the client experience, rather than by a desire to adopt the technology simply for the sake of it.“People often grapple with the question of what they are using AI for. Ultimately, if you’re a customer-facing business, it must translate into a tangible client outcome. The clients must feel it,” she said.Jane Fraser, who became Citigroup CEO in March 2021, made AI a core pillar in the bank’s multi-year corporate overhaul, aiming to streamline operations and drive efficiency.Citi logged a strong first-quarter financial performance, with revenue up 14 per cent and net income growing 42 per cent.Citi, which does not disclose results by geography, said wealth revenues increased 11 per cent to US$3.1 billion, driven by growth in its Citigold and retail banking segments as well as its private bank business.