CGW Asia Head, Business Development

Global wealth continues to grow world-wide at an unprecedented pace. Citi's global footprint and ability to service clients holistically position us to become an industry leader in wealth. The recent formation of Citi Global Wealth (CGW) as Division of Citi, with over 8,000 employees, has drawn together insights, experience, and assets from across the Global Consumer Bank, the Private Bank, and the broader Institutional Clients Group. Citi Global Wealth is a Division of Citi focused on serving the needs of clients across the entire wealth spectrum. It generates over $6.6 Billion of Revenue across its global footprint in Asia, EMEA, Mexico, and North America. CGW propositions are delivered via tailored offerings across Citigold, Citi Private Client, and Citi Private Bank brands.

By building on the combined strengths of Citi, CGW will transform the way we serve clients across the wealth spectrum to deliver the full range of high tech and high touch capabilities Citi can offer and ultimately help them achieve their goals.

Citi Global Wealth will be relentlessly focused on our Clients from Emerging Wealth to Ultra-high Net Worth - whether it's access to investment opportunities and advice, tools and analytics, a focus on environmental, social and governance concerns or more engaging digital experiences.

In Asia Citi Global Wealth, combines the Citi Private Bank and the Consumer Wealth organization, including the International Personal Bank, into a single platform to serve our clients. CGW Asia is a top three wealth manager in the region with over US$300B in clients AUMs and is looking to add in excess of US$150B AUMs by 2025 and further extend our leadership position in Asia.

Job Purpose

The Citi Global Wealth Asia CGW Asia Partnership, Alliances & business development reports into the CGW Asia Head and is a member of the CGW Asia Leadership Team.

This role supports the CGW Asia Head in identifying business development and strategic client acquisition partnerships, follow through with assessment, approvals & execution of partnerships to deliver the financial goals for CGW Asia on revenue, with an overall focus on expenses, ROTCE and operating efficiency.

The CGW Asia will partner closely with Segment Head and Country Heads in the region to ensure any partnership deal can be operationalized and delivered. The incumbent will also partner closely with the Global Wealth Services and Strategic investments head and interact with the relevant global heads on specific to the business development initiative.
Key Responsibilities

Business Development and Partner Management

Defining, launching, and managing the multiple strategic partnership constructs that will lead to client-led profitable scale and growth across but not limited to wealth products distribution, innovative acquisition partnerships, offshore banking propositions and innovative wealth services offerings across client segments.

Responsible for leading and executing commercial partnership agreements and personally involved in partner pitches (both internal and external to Citi), and responses to RFPs. Partnership feeds into the CGW strategies

a) Rebuilding the offshore banking model for IPB SG and extend to HK;
b) Provide "wealth as a service" to potential FI partners who would like to go B2C;
c) Internal partnership with ICG on referrals, JVs;
d) Wealth@Work conceptualization and building the model for Asia;
e) Greater Bay Area partnership to capture China onshore opportunities and f) regional co-brand partners for CGW business/products.

The role requires alignment of Global and Regional priorities, supporting the region to achieve key growth objectives through partnerships (target 30% of all new customer acquisition for the franchise on a go-to basis) and scaling our businesses by partnering with the right brands, maximizing the use of Citi's marketing assets, risk management expertise, investment know how, data and technology/API capabilities. The person in this role will be the primary contact in CGW for interactions with ICG/CCB and their clients, to drive One Citi objectives in serving our clients

Assessment, Approvals and Execution of Partnerships

As part of the Partnerships, Alliance & business development role, the role requires new product/process design/ new commercial constructs to be negotiated & sold to external partners. Evaluate cost benefit and make case for technology investment from Citi, negotiation of rewards costs & partner payments, assessment of the multi-year P&Ls/ payback of the program and assessment/mitigation of partner risks through appropriate controls.

Evaluate multi-country partnerships, while ensuring a consistent product template is implemented and a strong regional relationship is maintained with senior leadership at partner HQs, while keeping in mind any no compete from legacy markets.

Strategy & Financial Planning

Develop & articulate the business strategy for the APAC CGW business to deliver financial results & meet return hurdles. The business is expected to contribute ~30% of total CGW revenues by 2025.

Drive all planning and forecasting exercises including the Annual Financial Plan, and monthly/quarterly Outlooks for partnership businesses.

Manage all investment decisions related to partnership and alliance.

Establish/Optimize foundational business processes

Partnership framework & governance, evaluating and incubating specific global ideas ( working in partnership with Global Citi Wealth Services & Strategic investments team and relevant Global Business heads) in APAC region to test for applicability, bring to pre agreed scale to proof of concept before full roll out.

Incumbent Specification

Knowledge/Experience/Technical skills

• Proven track record as a senior leader in all aspects of business management (strategy, sales, people leadership, operations, financial performance, risk & controls).
• 15+ years of relevant strategic and operational work experience.
• Deep understanding of the financial services & advisory industry, wealth products and banking business economic dynamic
• Project Management Skills, ability to lead cross functional teams towards a common vision
• Corporate / Strategic Partnership relationship management
• Transaction management and execution skills (distribution or M&A) valued
• Be an evangelist to drive cultural change and influence strategy across the organization
• Demonstrated ability to follow through to execution. Proven leadership skills and ability to work in a matrixed environment.
• Superior communication skills - able to clearly articulate complex strategies and ideas, in both oral and written form, to senior management, as well as external partners
• Excellent verbal and written communicator for internal and external communications.
• Travel required
• Bachelor's degree in Finance Related field required, MBA preferred.

Other Skills

• Organized - can juggle multiple, potentially competing priorities
• Detail oriented - obsessed about quality; be able to review and finalize complex business agreements (typically 5-10 year contracts) with external partners
• Execution oriented - doesn't remain in the theoretical; is able to make choices/decisions to deliver rapid business impact
• Collaborative - easy to work with, across all levels of the organization; builds effective working relationships
• Bias for change and innovation - actively seeks out ways to improve processes, people, etc
• Influence skills - able to influence outcomes without necessarily direct authority; experienced navigating large complex organizations to achieve results

Job Family Group:
Private Client Coverage
Job Family:
Private Client Business Development
Time Type:
Full time
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