Clients can directly fund donations and leverage Citi Private Bank’s philanthropic advisory for customised guidance and support in their missions. Credit: OleksSH/Shutterstock.

Citi Private Bank has launched philanthropy advisory solutions in Asia, amid rising demand from ultra-high net worth (UHNW) clients.

In Asia, the roll-out of the new offering starts with Singapore.

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These solutions, managed by the bank’s Global Family Office Group, were already available to ultra-rich clients in the US.

New philanthropy solutions have been launched in collaboration with two registered charities in Singapore, including the Community Foundation of Singapore (CFS) and AVPN.

Citi Private Bank’s Global Family Office Group will connect clients with these charities to identify potential causes and programmes for philanthropic contributions.

Citi Private Bank now allows clients to support causes they care about through donor-advised funds and donations via charity partners.

CFS CEO Catherine Loh said: “As Singapore’s oldest and leading community foundation, we have proudly delivered philanthropic advisory services for 16 years. Our mission is to bridge donors with the causes closest to their hearts, empowering them to create lasting, meaningful impact.

“We are eager to welcome Citi Private Bank’s clients into our growing community of thoughtful philanthropists and look forward to sharing our expertise to help them achieve their giving goals.”

Clients can directly fund donations to causes and utilise Citi Private Bank’s philanthropic advisory for tailored guidance, governance, and programmatic frameworks to support their legacies and missions.

Citi Private Bank Asia South chairman Lee Lung-Nien said: “A $100tn inter-generation wealth transfer is occurring, and the next generation often has distinct values and philanthropic priorities such as climate change and social inequality.

“Our new offering caters to a growing trend of clients who want a more structured and customised approach to giving, and draws from Citi Private Bank’s expertise of providing similar services elsewhere.”

Last month, Citigroup appointed Chris Biotti as the new head of its North America private bank, effective late May.