Citi opened its fourth Citi Wealth Advisors (CWA) smart broking branch in India at Bangalore.
CWA is the retail business unit of Citigroup Global Markets India Private Ltd, and has eight branches nationally, with three of them located in the South — Bangalore, Chennai and Hyderabad.
“We aim to establish CWA as a premier wealth management service provider with equity brokerage as its centre of plate offering,” Mr Rakesh Kaul, Business Head, CWA, said.
Facilities
The branches would offer facilities such as video conferencing, a digital marketing wall — that adorns the exterior of the branch, offers individuals an insight into the world of Citi through a digital display of products and services and consequent customer benefits, etc.
The CWA equity brokerage account offers customers products ranging from equity cash and carry, intra-day trading, futures and options, investment in exchange traded funds (ETFs), and other wealth products offered from the Citi platform.
The CWA branches would offer both self-service and assisted trading to customers, said Mr Anand Selvakesari, Country Business Manager – Global Consumer Group, Citi India.
According to him, the new growth paradigm for the global bank would be a focused segment-led strategy.
The segments under focus would be salaried, emerging affluent, affluent, and NRIs, among others.
The bank would also invest in organic growth in India, and focus big on the digital space, he added.