(Bloomberg) -- Citigroup is targeting a 10% increase in its Asian wealth assets under management this year as the region's growth creates more millionaires.

The trend of an "expanding middle-class and increasing concentration of wealth among affluent individuals in Asia is very much alive and continuing," Jonathan Larsen, Asia-Pacific head of consumer banking, said in an interview in Hong Kong last week. A 10% gain would match last year's growth.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access