The new philanthropy solutions allow Citi clients to establish donor-advised funds or channel charitable donations through two registered Singapore-based charities: the Community Foundation of Singapore (CFS) and AVPN (Asian Venture Philanthropy Network).
SINGAPORE — March 23, 2025 — As a new wave of intergenerational wealth transfer reshapes priorities among the ultra-wealthy, Citi Private Bank has launched a suite of philanthropy advisory solutions in Asia, beginning in Singapore. The initiative aims to meet growing demand from clients seeking to integrate philanthropy more formally into their wealth management strategies.
RELEVANT SUSTAINABLE GOALS
The offerings, unveiled on Wednesday, mark a regional expansion of services long available to Citi’s ultra-high-net-worth clientele in the United States. They arrive at a pivotal moment for family offices in Singapore and Hong Kong, as both jurisdictions continue to court global wealth through tailored regulatory and tax frameworks.
Formalizing Giving for a New Generation
The new philanthropy solutions allow Citi clients to establish donor-advised funds or channel charitable donations through two registered Singapore-based charities: the Community Foundation of Singapore (CFS) and AVPN (Asian Venture Philanthropy Network). These partnerships aim to facilitate targeted, mission-aligned giving and provide clients with access to trusted philanthropic infrastructure.
Lee Lung-Nien, Asia South Chairman at Citi Private Bank, said the initiative reflects a broader shift among wealthy families and individuals toward structured, impact-driven philanthropy. “A US$100 trillion inter-generational wealth transfer is occurring, and the next generation often has distinct values and philanthropic priorities such as climate change and social inequality,” Lee noted.
Advisory Services Beyond Donations
In addition to the funding pathways, clients will have access to Citi Private Bank’s global philanthropic advisory services, which include customized guidance on giving strategies, governance frameworks, and program design. The Global Family Office Group at Citi will play a central role in connecting clients with the bank’s charity partners and aligning their philanthropic visions with actionable causes.
With Singapore positioning itself as a philanthropic hub in Asia, the timing of the launch also complements ongoing government and industry initiatives to strengthen the city-state’s standing as a magnet for family offices and social capital.
The move signals a growing recognition that private capital has a critical role to play in addressing urgent societal challenges across the region. AVPN and CFS bring deep local expertise in deploying philanthropic funds across issue areas ranging from education and public health to environmental sustainability.
As social impact becomes a central concern for wealthy families—especially younger generations—private banks are increasingly expected to go beyond investment returns and offer meaningful, structured avenues for purpose-driven wealth deployment.
Looking Ahead
Citi has not yet announced plans to extend the program to other Asian markets, but the Singapore launch suggests a scalable model that could gain traction in neighboring jurisdictions where private wealth is expanding rapidly.
In a region confronting growing inequality, climate risk, and demographic shifts, Citi’s philanthropic advisory initiative is part of a larger trend: embedding values within wealth—and ensuring that financial legacies are not just preserved, but purposefully directed.
Lead image courtesy of REUTERS
