Citibank targets wealth builders

Citibank (China) Co Ltd is banking on its growing global presence and experience to provide holistic wealth management services for new wealth builders in China.

New wealth builders, or households with financial assets of $100,000 to $2 million, comprise the world's fastest-growing wealth segment when measured by growth trends across 32 countries around the world, The Economist Intelligence Unit Ltd, the research and analysis division of the Economist Group, said in its latest report.

New wealth builders have $88 trillion in global assets and the value is expected to reach $145 trillion by 2020 at a compound annual growth rate of 7.1 percent, the report said.