Citi Unifies Global Wealth Management Business

By Benzinga3 days ago

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“Citi Global Wealth“ to Deliver Full Spectrum of Products and Services Globally

Citi announced today that it has created a single wealth management organization, Citi Global Wealth, unifying wealth management teams in Global Consumer Banking (GCB) and the Institutional Clients Group (ICG). Citi Global Wealth is a single, integrated platform serving clients across the wealth continuum, from the affluent segment to ultra-high net worth clients.

This new organization will be led by Jim O'Donnell and will include the Citi Private Bank and Citi Personal Wealth Management. Jim will report to Anand Selva, CEO of Global Consumer Banking, and Paco Ybarra, CEO of the Institutional Clients Group.

In an internal memo announcing the formation of the new business, Citi CEO Michael Corbat and Citi President and incoming CEO Jane Fraser said, “Making wealth management a key differentiator and source of enhanced returns for Citi will be a key element of our strategy going forward, and putting the full force of our firm behind an offering in this way is indicative of the approach we're taking to transforming our bank.“

Prior to his appointment ...

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