A single wealth management organization was created by Citi Global Wealth, unifying wealth management teams in Global consumer banking (GCB) and the Institutional Clients Group (ICG). It is the single, integrated platform serving affluent segment to ultra-high net worth clients.
The main strategy going forward will be making wealth management the essential differentiator source of enhanced returns for Citi and to put the full force of the firm into action.
Jim O’Donnel leading the new organization will include Citi Private Bank and Citi personal wealth management under him and will be reporting directly to Anand Selva , CEO of Global Consumer Banking and Paco Ybarra, CEO of the Institutional Clients Group.
As said by the new CEO the clients of Citi are increasing globally and that the bank is committed to help the clients in their financial needs and help preserve and build wealth for themselves and their families and for future generations. As they preserve the products , capabilities , services and expertise of the Private bank and Consumer Wealth business to deliver the full global power to Citi and in turn to its clients by creating a unified Wealth Organization.
The new CEO before his new role was the Global head of Investor Sales and Relationship Management who was responsible in the distribution of Global Market products to Citi’s Equities , Fixed income , Currencies and commodities clients.
Citi’s Private bank help the world’s wealthiest individuals and law firms protect and grow their wealth. Housing $550 billion client business in total, including 25% of world’s billionaires. Citi Private Bank is currently serving almost 1400 family offices and more that 13,000 UHNW clients across 50 different cities in over 100 and odd countries.
The reason behind having fewer but larger and sophisticated cliental portfolio is because of the bank’s unique business model which has enabled a highly customizable experience to its clients. Also providing a wide range of products and services relating to investments, banking, lending , custody , wealth planning , real estate , art, air craft financing and lending and much more. The highlight is that all these services are available with personal advices with competitive pricing and top notch execution.
Citi now has approximately 200 million customer account making it a leading global bank doing business in more than 160 countries and jurisdictions.
Citygold Private Client and Citi Priority offerings , Citi’s Global consumer bank provides institutional grade , wealth management services like wealth teams dedicated personally , fund access and a wide range of exclusive privileges, preferred price and benefits to its clients across the globe not restricting to only certain geographical components. With a broad range of financial products like consumer banking, credit , corporate and investment banking , securities brokerage , transaction services and wealth management to its consumers , corporations , governments and institutions.
