Citi Unifies Global Wealth Management Company

NEW YORK–(Organization WIRE)–Jan 13, 2021–

Citi announced now that it has created a single prosperity administration firm, Citi World wide Prosperity, unifying prosperity administration groups in Worldwide Consumer Banking (GCB) and the Institutional Clientele Group (ICG). Citi International Wealth is a single, integrated platform serving clientele across the prosperity continuum, from the affluent segment to extremely-substantial net worthy of clientele.

This new firm will be led by Jim O’Donnell and will contain the Citi Private Financial institution and Citi Personalized Wealth Management. Jim will report to Anand Selva, CEO of International Consumer Banking, and Paco Ybarra, CEO of the Institutional Purchasers Team.

In an interior memo saying the formation of the new organization, Citi CEO Michael Corbat and Citi President and incoming CEO Jane Fraser said, “Making prosperity management a vital differentiator and source of improved returns for Citi will be a key factor of our method likely ahead, and placing the full force of our organization at the rear of an providing in this way is indicative of the strategy we’re using to reworking our bank.”

Prior to his appointment to this new job, Mr. O’Donnell was Global Head of Investor Gross sales and Relationship Management, accountable for the distribution of worldwide Marketplaces items to Citi’s Equities, Fixed Income, Currencies and Commodities purchasers. He joined Citi in July 1999.

“Our shoppers are increasingly world-wide in their existence and in their economic demands, and we are committed to helping them maintain and develop wealth for by themselves, their family members and for foreseeable future generations,” mentioned Jim O’Donnell, Head of Citi World wide Wealth. “Creating a unified Wealth organization will aid us to provide the full, world-wide ability of Citi to customers although making sure that we preserve the products, capabilities and skills of the Non-public Bank and Client Wealth businesses.

Citi’s Non-public Bank is dedicated to aiding the world’s wealthiest persons, people and legislation corporations guard and responsibly grow their prosperity. With close to $550 billion in full customer enterprise, Citi Non-public Bank serves more than 13,000 UHNW clientele, which includes 25% of the world’s billionaires and extra than 1,400 household offices throughout 50 metropolitan areas in around 100 international locations. Its exclusive business design permits us to aim on less, greater and a lot more sophisticated shoppers who have an average internet worth previously mentioned $100 million. Clients enjoy a really tailored practical experience, with entry to a complete assortment of goods and solutions spanning investments, banking, lending, custody, wealth scheduling, genuine estate, artwork, aircraft finance and lending, and extra with personalized tips, aggressive pricing and economical execution.

Via its Citigold, Citigold Private Client and Citi Precedence offerings, Citi’s Global Client Bank gives institutional quality, personalized prosperity management expert services to purchasers, which includes devoted Wealth groups, fund access and a array of special privileges, chosen pricing and positive aspects to purchasers about the world. The device has somewhere around $200 billion in financial commitment belongings beneath management globally and serves shoppers in the U.S., Europe, the Middle East, Asia and Mexico.

Citi

Citi, the major world wide lender, has about 200 million customer accounts and does company in much more than 160 nations and jurisdictions. Citi gives shoppers, businesses, governments and establishments with a broad variety of fiscal merchandise and companies, including shopper banking and credit, company and expenditure banking, securities brokerage, transaction products and services, and wealth management.

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Source: Citi

PUB: 01/13/2021 05:01 PM/DISC: 01/13/2021 05:02 PM

http://www.businesswire.com/news/residence/20210113005909/en

Tags: Citi, Company, Global, Management, Unifies, Wealth