June 22, 2021

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Business is my step

Citi Unifies World wide Prosperity Administration Small business

3 min read

Citi declared these days that it has established a solitary wealth administration business, Citi International Prosperity, unifying wealth administration teams in World Purchaser Banking (GCB) and the Institutional Consumers Team (ICG). Citi World wide Wealth is a one, integrated system serving clientele throughout the wealth continuum, from the affluent segment to ultra-substantial internet worthy of shoppers.

This new corporation will be led by Jim O’Donnell and will include the Citi Personal Bank and Citi Particular Wealth Management. Jim will report to Anand Selva, CEO of World wide Shopper Banking, and Paco Ybarra, CEO of the Institutional Clients Team.

In an internal memo saying the development of the new business enterprise, Citi CEO Michael Corbat and Citi President and incoming CEO Jane Fraser said, “Making prosperity management a important differentiator and source of improved returns for Citi will be a critical ingredient of our system going ahead, and putting the whole power of our business behind an presenting in this way is indicative of the strategy we’re taking to transforming our financial institution.”

Prior to his appointment to this new function, Mr. O’Donnell was World wide Head of Investor Sales and Romance Administration, responsible for the distribution of international Markets goods to Citi’s Equities, Set Revenue, Currencies and Commodities purchasers. He joined Citi in July 1999.

“Our clientele are ever more world-wide in their presence and in their monetary needs, and we are dedicated to serving to them protect and build wealth for by themselves, their people and for long term generations,” explained Jim O’Donnell, Head of Citi World-wide Wealth. “Creating a unified Wealth organization will assistance us to provide the total, world electric power of Citi to shoppers although making certain that we protect the items, capabilities and knowledge of the Non-public Lender and Shopper Prosperity companies.

Citi’s Non-public Bank is devoted to aiding the world’s wealthiest people today, households and legislation companies defend and responsibly develop their prosperity. With about $550 billion in whole shopper enterprise, Citi Non-public Lender serves a lot more than 13,000 UHNW purchasers, like 25% of the world’s billionaires and far more than 1,400 loved ones places of work across 50 cities in in excess of 100 countries. Its one of a kind company model permits us to aim on fewer, more substantial and extra complex purchasers who have an ordinary net worth higher than $100 million. Clients enjoy a remarkably tailored experience, with entry to a detailed range of merchandise and companies spanning investments, banking, lending, custody, prosperity setting up, real estate, artwork, plane finance and lending, and more with personalized advice, competitive pricing and efficient execution.

By way of its Citigold, Citigold Private Consumer and Citi Precedence offerings, Citi’s World wide Shopper Lender presents institutional grade, individualized wealth management providers to customers, which involves focused Prosperity teams, fund entry and a vary of special privileges, most popular pricing and added benefits to shoppers all over the globe. The device has about $200 billion in financial investment belongings under administration globally and serves clients in the U.S., Europe, the Center East, Asia and Mexico.

Citi

Citi, the top global financial institution, has close to 200 million client accounts and does business in far more than 160 nations around the world and jurisdictions. Citi delivers individuals, businesses, governments and establishments with a broad array of monetary products and solutions and providers, which includes buyer banking and credit score, company and investment banking, securities brokerage, transaction expert services, and wealth administration.

Added information and facts might be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog site: http://website.citigroup.com | Facebook: www.fb.com/citi | LinkedIn: www.linkedin.com/enterprise/citi

Contacts

Media Contacts:

Drew Benson

212 559-0475

[email protected]

Gabe Morales

718 248-7029

[email protected]

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