Spear’s Magazine presents Spear’s 500 Live on 7 September. Main image: TungChew/Shutterstock Read next: The Spear’s Wealth Management Index Jerry Hogan Consumer Federation of America Michael Levine Citi - Bank. Three months later the Wall Street Journal reported the firm’s plans to add 2,300 new staff to its wealth business in Asia and increase assets under management across the region to $450 billion by 2025.Ī few days later Citi announced it was selling its retail banking units in 13 markets across Asia and reinvesting some of the $7 billion windfall into building its wealth presence across EMEA and Asia. Bank Card Association John Fisher Senior Vice President First Bank Group of. In January 2021 the bank said in a joint statement attributed to Citi’s then-CEO Michael Corbat and incoming CEO Jane Fraser that making wealth management a key differentiator and source of enhanced returns ‘will be an important element of our strategy going forward’.
How is Citi building its w ealth business?Īt the start of last year, Citi took the decision to consolidate its global consumer banking and institutional units into ‘Citi Global Wealth’, which it describes as an end-to-end services platform for affluent clients through to UHNWs.
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