HONG KONG SAR – Media OutReach – August 2, 2023 – Citi Global Wealth unveiled the ULTIMA Mastercard credit card earlier this week, targeting Citi Private Bank customers across Asia, including Hong Kong and Singapore, two of four Citi’s global wealth centers.
The invite-only card hits the market as spending by the bank’s super-high net worth customers continues to top pre-pandemic levels. Spending in the first half of this year, compared to the same period in 2019, was up 56% in Singapore and 36% in Hong Kong. In both markets, shopping, dining and travel were the top spending categories.
Citi-commissioned research in Hong Kong and Singapore found ultra-high net worth customers want to access more experiences for themselves and loved ones, especially in travel, and invest quality time in wellness . In response to the spending streak and changing preferences of this customer segment, the card includes tailored travel and lifestyle experiences and wellness features in addition to the best rewards and exclusive perks, supported by dedicated Lifestyle Relationship Managers.
ULTIMA Mastercard was presented to some customers on Monday evening (31st July) at a “Citi ULTIMA Gala Dinner” held at the Rosewood Hotel in Hong Kong, which was attended by Academy Award-winning actress Michelle Yeoh.
An example of the exclusive access that ULTIMA enjoys, guests heard the inspirational icon firsthand during a fireside chat between Ms. Yeoh and Angel Ng, Asia Head of Citi Global Wealth. Both role models in their respective fields, Ms. Yeoh and Angel discussed the pursuit of excellence, living life to the full and their shared passion for advancing diversity and inclusion to create impact in the lives of others and to build a world without prejudice.
Guests also enjoyed exclusive experiences featured at the event, including an interactive digital art gallery and an immersive experience that took guests to select natural wonders around the world. A corresponding exclusive customer event will take place in Singapore on August 21.
Angel said, “Citi’s ULTIMA proposition has established itself as a premier and exclusive credit card for ultra-high net worth customers. The latest iteration of the map ensures that we continue to stay ahead of our customers’ needs and wants based on their spending behaviors. As part of Citi Global Wealth, we are leveraging the entire wealth continuum to now include this credit card in the product lineup for private banking clients in Asia. The partnership between our credit cards and private banking businesses helps us unlock new opportunities to expand and deepen our relationships with our clients in the ultra-high net worth segment.”
Citi Global Wealth is the bank’s unified wealth management platform, serving clients across the wealth continuum in Asia through Singapore and Hong Kong. The business includes Citi’s credit card franchise in the region, our Citigold and Citigold Private Client propositions, international personal banking, Citi Private Bank and Citi’s consumer banking arm in Singapore and Hong Kong.
Sanjay Nambiar, Head of Cards and Unsecured Loans for Asia Pacific and EMEA, said, “We are delighted to partner with Mastercard to bring this card to our customers in Asia. This collaboration brings together Mastercard’s network and Citi’s deep experience in conceptualizing credit card proposals to expand our reach to existing and potential customers in the region. »
“The Asia-Pacific region has seen a strong and sustained economic recovery from the pandemic. It is now home to 30% of the world’s super-wealthy population and has seen the affluent segment of Singapore and Hong Kong grow in recent years,” said Jason Lane, Executive Vice President, Global Account Management, Mastercard. “Mastercard is thrilled to extend its longstanding partnership with Citi to launch the enhanced ULTIMA card. It meets the needs of Citi’s ultra-high net worth customers and leverages the Mastercard Priceless Experiences program, designed to give cardholders privileged access to unforgettable experiences. experiences tailored to their individual desires.”
Learn more about the updated ULTIMA proposal:
From tailored experiences to wellness benefits and exclusive service, ULTIMA offers compelling perks including:
Ultimate Dedication:
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ULTIMA Lifestyle Relationship Managers
Ultimate Horizons:
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Golf at St. Andrews with Pro experience or golf at The Open
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Access to luxury private islands in different parts of Asia and the Pacific Islands with full-service resorts for personal and family retreats
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Access to renowned distilleries and vineyards in Europe
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Supercar driving experiences – on circuits around the world and exclusive visits to car museums
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One night stay free with a minimum of two consecutive nights booked at over 900 luxury participating properties worldwide
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Complimentary companion airfare with the purchase of a full-fare First Class or Business Class ticket on eight participating airlines
Ultimate treat:
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Access to priority booking for Michelin-designated restaurants in Hong Kong and exclusive chef-prepared dinners in Singapore through the bank’s partnership with the Michelin Guide
Ultimate Balance:
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Exclusively curated wellness retreats
Please click
here to download the pictures.
Photo 1: Angel presents the ULTIMA Mastercard and welcomes guests, including Mastercard partners, ULTIMA Ambassadors from Hong Kong and Singapore, and some customers at the gala dinner.
Photo 2: Citi seniors and Mastercard partners toast the unveiling of the latest ULTIMA credit card in Asia. For reference (left to right): Regina Lim, Head of Cards and Personal Loans, Citibank Singapore; Angela Shing, Head of Digital Sales and Marketing, Asia Citi Global Wealth and Hong Kong; Helena Chen, Managing Director, Hong Kong and Macao, Mastercard; Brendan Carney, Managing Director, Citibank Singapore; Steven Lo, Head of Asia-Pacific, Citi Private Bank; Tim Monger, Head of North and East Asia Cluster, Citi; Angel Ng, Asia Head of Citi Global Wealth; Aveline San, Managing Director, Citi Hong Kong and Macao; Jason Lane, Executive Vice President, Global Account Management, Mastercard; Vicky Kong, President and CEO, Citibank Hong Kong; Sanjay Nambiar, Head of Cards and Unsecured Loans for APAC and EMEA; Lee Lung Nien, President and Head of South Asia, Citi Private Bank; Lawrence Li, Head of Cards and Unsecured Loans, Citibank Hong Kong.
Photo 3: Guests heard Michelle Yeoh and Angel Ng in a fireside chat during the gala dinner. They discussed the pursuit of excellence, living life to the fullest, and their shared passion for advancing diversity and inclusion to create impact in the lives of others and build a world without bias.
Photo 4: Guests enjoyed exclusive experiences including an interactive digital art gallery and an immersive experience that took guests to select natural wonders from around the world.
Hashtag: #Citibank
The issuer is solely responsible for the content of this announcement.
