Citi is teaming up with China Guangfa Bank (CGB) to offer cross-border wealth services to clients in the Guangzhou-Hong Kong-Macau Greater Bay Area (GBA) under the cross-border Wealth Management Connect (WMC) scheme.

Hong Kong is one of the most international cities in the GBA, and plays an important role for GBA clients wishing to diversify their portfolio with exposure to global markets and gain access to better wealth advisory services.

For southbound clients from mainland China, Citi will offer nearly 100 types of wealth management products with low-to-medium investment risk under the WMC scheme, including bonds, mutual funds as well as multiple foreign currencies services through both remote and manned channels.

For northbound clients from Hong Kong, CGB as a long-established bank with strong business focus in the GBA, will offer a range of low-to-medium risk agent financial products, mutual funds and wealth management products under the WMC framework, helping clients navigate the fast-growing GBA market with a vast pool of investment opportunities.

As the only joint-stock commercial bank with institutions covering all of “9+2” cities in the GBA, with more than half of its clients based in Guangdong, and one-third of its branch offices located in the GBA, CGB fully leverages on its location advantage and the group’s comprehensive operational edges, with the aim of bringing high-quality and high-efficiency retail financial services to GBA clients.

“WMC opens up unprecedented market opportunities for the financial industry in this area as consumer wealth continues to grow,” says Lawrence Lam, Citi’s consumer business manager for Citi Hong Kong. “Hong Kong is one of the wealth hubs in the region for Citi, and we are committed to investing in our wealth management franchise in Hong Kong with the GBA being a key strategic market that will fuel future growth.”