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Top related persons:
— - 1 Mehrnaz - 1 Naz - 1 Vahid - 1 Andy Sieg - 1 Merrill Lynch - 1 Sieg - 1 Naz Vahid - 1
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Citi - 2 Service - 1 Business - 1 Wealth - 1 Law Firm Group - 1 Citigroup Inc - 1 REUTERS - 1 Citigroup - 1

Search resuls for: "Citi's Private Bank"


3 mentions found


☆ Leaked Memo: The head of Citi's fastest-growing wealth business is leaving. Read Andy Sieg's announcement.
  + stars: | 2024-05-14 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +4 min
Read previewCiti's ailing wealth business has one bright spot: a division devoted to serving rich law-firm partners and other wealthy executives. She's one of at least 20 senior wealth executives to depart since Andy Sieg took over Citi's wealth business in September after leaving Merrill Lynch. AdvertisementAndy Sieg took over Citi's wealth division in September after leaving Merrill Lynch. Merrill LynchVahid's unit, Wealth at Work, is the smallest but fastest-growing part of Citi's wealth division. Naz then spearheaded the expansion of this successful model with the creation of Wealth at Work, a cornerstone of our Wealth business.
Persons: —, Mehrnaz, Naz, Vahid, Andy Sieg, Merrill Lynch, Sieg, Naz Vahid, Andy Organizations: Service, Citi, Business, Wealth, Law Firm Group
☆ Wealthy families pile into bonds, private equity while shedding stocks - Citi
  + stars: | 2023-09-12 | by ( Tatiana Bautzer | ) www.reuters.com   time to read: +2 min
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
☆ Citigroup's Asia Q1 wealth revenue jumps 20% amid new clients, investment gains
  + stars: | 2023-04-24 | by ( ) www.reuters.com   time to read: +1 min
HONG KONG, April 24 (Reuters) - Citigroup's (C.N) Asia wealth revenue surged 20% in the first quarter of 2023, backed by investment gains, insurance revenue and a jump in new private banking clients, according to a company spokesperson. Still, globally, the bank's wealth management business was weaker, recording $1.8 billion in first quarter revenue, down 9% from the same period last year. The U.S lender cited headwinds in securing revenue from investment products and higher interest rates paid on deposits as being the main factors for the global decline. Meanwhile, the firm's institutional business, including banking, services and markets, recorded $2.4 billion in first quarter revenue in Asia, up 6% from a year ago. The firm's Asia head told Reuters last August it planned to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region.
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