GlobalData’s 'Competitor Profile: Citi Private Bank' provides a comprehensive analysis of Citigroup’s private banking and wealth management operations. It offers insights into the company’s strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service propositions are covered, as are product innovation and marketing activities.

Citi Private Bank is part of Citigroup’s Citi Global Wealth division, which serves ultra-high-net-worth (UHNW) clients. Citi Global Wealth division unifies wealth management teams in Global Consumer Banking (GCB) and the Institutional Clients Group (ICG).

Scope

– Citi Private Bank mainly focuses on UHNW customers with assets of at least $25m. The bank also requires its clients to hold a minimum of $5m-10m (depending on the market) in assets in accounts and products managed by Citigroup.

– In January 2021, Citigroup created a single wealth management organization, Citi Global Wealth. With these changes, the group’s existing wealth business divisions (including Citi Private Bank and Personal Wealth Management) became part of Citi Global Wealth. In June 2021, the group launched a new unit called the Digital Assets Group, dedicated to the cryptocurrency and blockchain space. This unit also sits within the Citi Global Wealth division.

– In April 2021, Citigroup announced the sale of its consumer banking business in 13 markets globally, with most of these markets in the Asia Pacific region. Following this move, Citigroup plans to ramp up its wealth management operations – especially in Asia Pacific. The group is aggressively hiring in Hong Kong (China SAR) and Singapore in 2021 and aims to grow client assets in Asia Pacific by over $150bn by 2025, including a $120bn increase in HNW assets under management (AUM).

Reasons to Buy

– Examine the financial performance, key ratios, and AUM growth of both Citigroup and Citi Private Bank and benchmark this competitor against other global wealth managers.

– Understand Citi Private Bank’s current strategic objectives and their impact on its financial performance.

– Discover Citi Private Bank’s key products and client targeting strategies and examine whether these have been successful.

– Learn more about Citi Private Bank’s marketing strategy, social media presence, and digital innovations.

Key Players

Citigroup
Citi Private Bank
Citi Global Wealth
Citigold
Citigold Private

Table of Contents

Table of Contents

Executive Summary

Strategy

Financial Performance

Customers and Products

Marketing and Advertising

Appendix

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