Spearheading the Citigold Chinese New Year 2019 Outlook were (left
to right) Citi consumer bank head of sales and distribution Therese Chan,
consumer banking head Manoj Varma, CEO Aftab Ahmed and retail bank head Rene Aguirre
Citi’s consumer banking head Manoj Varma welcomed Citigold clients. “Today’s event is about sharing global and local expertise so you can be aware of the many investment opportunities during this current period of global volatility,” said Varma. He added that diversification across asset classes, geographies and strategies will be essential in 2019.
According to Ramon Tejero, Citicorp Financial Services and Insurance Brokerage Inc. (CFSI) investment product head, the Philippine equities market has performed better than fixed income over the last 10 years despite ongoing volatility. “Equities continue to perform well compared to a continued structural trend for lower bond yields, despite a recent spike in the market,” explained Tejero.
Tejero also said that the Philippine peso will likely remain weak given pressures on external balances. “Foreign exchange can be used to access global markets rather than be seen as a source of returns,” he suggested.
Citi believes the Philippine economy will continue on its growth path despite challenges in the global economy. Citi forecasts GDP will grow 6.5% in 2019 and expects inflation to average 3.2% in 2019.
“We aim to keep Citigold clients up-to-date on the latest market and economic developments so they can be empowered to make informed investment decisions to grow and protect their wealth,” said Rene Aguirre, Citi retail bank head. “Continuous innovation has been a key focus for us, from digital solutions to new investment products. For example, our Qualified Buyer Program enables qualified clients to access a wide range of offshore investment products in various asset classes.”
As the preferred wealth management partner in Asia and in the country, Citigold helps clients grow, manage and protect their wealth, and secure their financial future with a team of experts, unmatched research services, world-class products, global access, and exclusive privileges and rewards. For more information, visit www.citibank.com.ph.
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