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Earnings will be driving markets: Citi Private Bank
  + stars: | 2024-04-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings will be driving markets: Citi Private BankToby Gresham, investment counselor team lead at Citi Private Bank, says "this week in earnings, we've got half the value of the S&P reporting, and so that's going to set the tone."
Persons: Citi Private Bank Toby Gresham, we've Organizations: Citi Private Bank
High probability of a Fed July cut, says Citi Private Bank
  + stars: | 2024-04-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigh probability of a Fed July cut, says Citi Private BankToby Gresham, investment counsellor team lead at Citi Private Bank, says the U.S. Federal Reserve has "shown us a very clear glide path."
Persons: Citi Private Bank Toby Gresham Organizations: Citi Private Bank, U.S . Federal
China has been a 'serial disappointment,' Citi Private Bank says
  + stars: | 2024-02-29 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina has been a 'serial disappointment,' Citi Private Bank saysToby Gresham, investment counselor team lead at Citi Private Bank, says the challenge is that consumer sentiment is "so, so low."
Persons: Toby Gresham Organizations: China, Citi Private Bank
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal family offices have made a 'shift back out of cash into risk assets' in last 3 months: CitiHannes Hofmann of Citi Private Bank says "the one notable exception is actually Asia."
Persons: Citi Hannes Hofmann Organizations: Citi, Citi Private Bank Locations: Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRates will come down by the middle of 2024, global head of Citi Private Bank saysIda Liu, global head of Citi Private Bank, discusses the opportunities for investors in fixed income, equities and private equity allocations, and explains why she thinks markets will rebound next year.
Persons: Ida Liu Organizations: Citi Private Bank
Citi names Nancy Bertrand private bank head for Canada- memo
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsTORONTO, Oct 26 (Reuters) - Citigroup Inc (C.N) has named Nancy Bertrand as the head of its private bank in Canada, succeeding Bob McGuire who retired earlier this month, according to a memo seen by Reuters on Thursday. Bertrand, who takes the role effective immediately, will be responsible for leading Citi Private Bank's growth in Canada which caters to high-net-worth individuals. She most recently served as a private banker leading a team in Toronto and Montréal, advising ultra-high net worth families, foundations and single-family offices. She joined Citi Private Bank in 2006 and has held a number of senior positions. Bertrand will report to Halé Behzadi, North America head of Citi Private Bank.
Persons: Andrew Kelly, Nancy Bertrand, Bob McGuire, Bertrand, Halé, Nivedita Balu, Christina Fincher Organizations: Citibank, New York Stock Exchange, REUTERS, Rights, Citigroup Inc, Reuters, Citi, Citi Private Bank, Thomson Locations: Manhattan , New York City, U.S, Canada, Toronto, North America
REUTERS/Chris Helgren/File Photo/File Photo Acquire Licensing RightsNEW YORK, Sept 12 (Reuters) - Wealthy families loaded up on bonds and private equity investments in the first half of the year while slashing their stock exposure, according to a survey by Citigroup's (C.N) private bank. More than half of the 268 family offices polled, accounting for a combined net worth of $565 billion, increased their allocations in fixed income, while 38% boosted their private equity holdings. Investors sought out private equity investments in the first half while the market for initial public offerings (IPOs) stayed sluggish. But the private equity investments are more conservative now than in previous years. The family offices surveyed had an average portfolio allocations that included 22% in both public and private equities respectively, 16% fixed income and 12% cash.
Persons: Chris Helgren, Hannes Hofmann, Ida Liu, Tatiana Bautzer, Lananh Nguyen, Stephen Coates Organizations: Citigroup Inc, Citi, REUTERS, Citigroup, Treasury, Citi Private Bank, Citi's Private Bank, Thomson Locations: Toronto , Ontario, Canada, U.S, China
Valuations show no signs of cooling off with billionaires and private equity firms in bidding wars. Bankers to the rich told Insider which sports are drawing moneyed clients. Now rich individuals have to compete with institutional investors like private equity firms and sovereign wealth funds for a limited number of teams. As a result, aspiring team owners have gotten more creative to seal the deal. "It's never going to be a private equity type of model where these assets will be exited every five years," he told Insider.
Persons: Ryan Reynolds, Rob McElhenney, LeBron James, Milwaukee Bucks Marc Lasry, Brian Kantarian, Josh Harris, Kantarian, Ivo Voynov, It's, Gerry Cardinale, Voynov Organizations: Bankers, Sports, NBA, Wrexham AFC, Milwaukee Bucks, NFL, Citi Private Bank, Europe's Big Five, XFL, JPMorgan Locations: Washington, Europe, Plenty, Wall
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're constructive on U.S. stocks but global stocks are still the 'major opportunity,' Citi saysRobert Hoffman of Citi Private Bank says there's likely to be a shift away from the "Magnificent Seven" stocks to the small-caps and mid-caps in the second half of the year.
Persons: Robert Hoffman, there's Organizations: Citi, Citi Private Bank
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. not expected to slip into recession until end of 2024, Citi Private Bank saysRobert Hoffman of Citi Private Bank gives his predictions for Fed rate hikes and says he sees a "strong rebound" from small and mid-cap companies in the U.S.
Persons: Robert Hoffman Organizations: U.S, Citi Private Bank Locations: U.S
Below, we've their quotes on the subjects, along with how they said they're protecting their clients' money. I think it is a good chance, more than a little bit, that there will be a conflict, an invasion of Taiwan. Where to invest now: Roeper said he's bullish on aerospace companies because they're having a "pretty solid recovery" right now. The Vanguard Total Bond Market ETF (BND) offers exposure to different areas of the bond market. Where to invest now: Blake said he likes hybrid bonds, investment-grade bonds over a six-12 month duration, and private credit.
First Horizon (FHN) and TD Bank (TD)also called off a $13 billion deal Thursday that would have formed America’s sixth-largest bank. The Stoxx Europe 600 Banks Index, which tracks big EU and UK banks, has shed 14% over the same period. Year-to-date, European banks are up more than 3%, while US lenders are down 26%. Broader market dynamics have also helped European bank stocks. The European Central Bank, which meets Thursday, has also been slower than the US Federal Reserve to hike interest rates.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlight to 'what are perceived to be safer assets' could cost in the long term, Citi saysRobert Hoffman of Citi Private Bank says what might be a short-term haven for people, such as short-term Treasurys and high-grade investment bonds of short duration, is "likely going to cost you quite a bit in long-term return and long-term performance."
HONG KONG, April 3 (Reuters) - Japanese investment bank Nomura Holdings Inc (8604.T) on Monday said it has appointed Dr. Rudolf Hitsch as head of North Asia for its international wealth management business. Hitsch, former head of North Asia at Citi Private Bank, will be based in Hong Kong and run client relationship management teams covering North Asia in the newly created post. He will report to Ravi Raju, head of the wealth unit, Nomura said. Nomura has hired around 50 private bankers for the unit over the past two-and-a-half years as it focuses on its core markets of Greater China, South and Southeast Asia, and the Middle East, it said. Reporting by Xie Yu; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
March 30 (Reuters) - Citigroup Inc (C.N) on Thursday it has hired Andy Sieg to lead its global wealth arm from Bank of America Corp (BAC.N), where he led the Merrill Wealth management unit. Two years ago, Citigroup unified its various wealth businesses into a single wealth management organization, which was led by Jim O'Donnell and included the Citi Private Bank and Citi Personal Wealth Management. At its investor day last year, Fraser signaled the bank's intention to become a global leader in wealth management. Sieg's departure led to the appointments of Lindsay Hans and Eric Schimpf as co-leads of Merrill Wealth Management, Bank of America said in a separate statement. Sieg joined Merrill Lynch in 1992 and had served as Merrill president since 2017.
The clock is ticking on economic damage, Citi says
  + stars: | 2023-03-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe clock is ticking on economic damage, Citi saysRobert Hoffman of Citi Private Bank says "the further the Fed has to go up from here, probably the more likely we are to see an actual U.S. recession in the second half of this year."
Strategists see China's markets easily scoring double-digit gains this year. The case for investing outside the U.S. is strong, particularly with the dollar coming off its highs and looking at further downside. "While China's reopening is undoubtedly a turning point, there remain reasons to be cautious," wrote Barclays equity strategists. But still the prospects for China's economy are much brighter than they were just several months ago. The Covid lockdown has been so damaging to the Chinese economy, they want to get back to a growth path in 2023."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Citi Private Bank Global Head Ida LiuCiti Private Bank Global Head Ida Liu joins 'Closing Bell' to discuss what she's watching for her clients as well as the stocks she's buying now.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe think investors still need to buckle up for a lot of volatility, says Citi's Ida LiuCiti Private Bank Global Head Ida Liu joins 'Closing Bell' to discuss what she's watching for her clients as well as the stocks she's buying now.
Not everyone agrees the global economy is heading for a recession. Excluding the global financial crisis and the worst stage of the pandemic, that would be the weakest year for the world economy since 2001. Whether a global recession materializes may come down to three factors: what central banks do next, the consequences of China’s nascent reopening and energy prices. What a global recession meansWhether the world falls into recession or not, the next 12 months are likely to be difficult. Even if a global recession is averted, many countries could still endure downturns accompanied by painful rises in unemployment, though economists don’t agree on how severe and long they might last.
London CNN Business —Federal Reserve Chair Jerome Powell has the power to make or break markets these days. “Essentially, it killed the pivot dreams.”Economic data, particularly for the labor market, still looks relatively strong. “Big advertisers that we traditionally get spend from are not spending this quarter,” Roku (ROKU) CEO Anthony Wood told analysts after the company reported earnings on Wednesday. Ford saw its October US sales slump 10% over the last year as the company continued to battle supply chain difficulties. In March, the company said it would ship some vehicles without some less crucial computer chips and add them later.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are not buyers of emerging market stocks at this point, says CitiRobert Hoffman of Citi Private Bank says that's because U.S. dollar strength is likely to continue in the short term.
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