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Citi Private Bank - Competitor Profile

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    Company Profile

  • 37 Pages
  • January 2023
  • GlobalData
  • ID: 5187295
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The publisher's 'Citi Private Bank - Competitor Profile' provides a comprehensive analysis of Citigroup's private banking operations. It offers insights into the company's strategy and financial performance, including key data on AUM. Customer targeting and service propositions are covered, as are product innovation and marketing activities.

Headquartered in New York, the US, Citigroup is a global financial services organization that provides a broad range of products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management services. Citi Private Bank is part of Citigroup's Global Wealth Management division, which serves UHNW clients.


  • Citi Private Bank mainly focuses on UHNW customers with assets of at least $25 million. The bank also requires its clients to hold a minimum of $5 million-10 million (depending on the market) in assets in accounts and products managed by Citigroup.
  • In 2022, Citigroup reorganized its business structure to create the Personal Banking and Wealth Management division, which includes the Citi Private Bank.
  • 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. It also decided to exit the retail banking elements of its Citibanamex business in Mexico in January 2022. Following this move, Citigroup plans to ramp up its wealth management operations, especially in Asia-Pacific. In 2022, the group was aggressively hiring in Hong Kong (China SAR) and Europe. Furthermore, it aims to grow client assets in Asia-Pacific by over $150 billion by 2025, including a $120 billion increase in HNW assets under management (AUM).
  • Citigroup's growing focus on digitalization includes the launch of digital investment platform Citi Self Invest in July 2021. Citi Self Invest is a self-directed investment platform available within the Citi Mobile app. It enables clients to make self-directed investments in equities and ETFs with no service charges and no minimum account balance.
  • Environmental, social, and governance (ESG) remains a key focus of the group. Citi Private Bank runs the Investing with Purpose team, which offers portfolio management services that help clients make environmental and social impact investments without compromising on returns.

Reasons to Buy

  • Examine the financial performance, key ratios, and AUM growth of Citigroup and its Private Bank division 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.

Table of Contents

  • Executive Summary
  • Strategy
  • Financial Performance
  • Customers and Products
  • Brand Building Activities
  • Appendix

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Citigroup
  • Citi Private Bank
  • National Australia Bank
  • Axis Bank
  • United Overseas Bank (UOB)
  • DBS Group
  • Ahli United Bank
  • Sharegain
  • Citi Foundation
  • GAVI