Citi Branch Caters to Rich

By The Moscow Times

June 25, 2012

Citigroup opened its first branch dedicated to Moscow's wealthy, 20 years after entering the Russian market.

The branch, in the elite shopping area of Ulitsa Petrovka, will provide clients who have assets in the region of $1 million to $15 million with investment services and access to "exclusive social events," the New York-based company said in a statement Monday.

The lender's Citigold wealth management service has accumulated more than 25,000 clients in Russia since its introduction in 2002, according to Amit Sah, the Moscow-based consumer banking head. "This concept has been successfully launched in Asia in key markets such as Hong Kong and Singapore," Sah said in the statement.

(Bloomberg)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue