DIRS.INFO The most relevant business & tech news

☆ Meet the billionaires battling it out in the 2024 World Series
▼ + stars: | 2024-10-26 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

The Dodgers and Yankees will face off in the MLB 2024 World Series. AdvertisementWhen the Dodgers and Yankees take the field to battle it out for the 120th World Series championship, the players won't be the only ones with trophies on the line. The financier is worth $6 billion, according to Forbes. Now, the team is owned by George's kids, Hank Steinbrenner, Jessica Steinbrenner, Hal Steinbrenner, and Jennifer Steinbrenner Swindal. Related storiesThe bulk of the Steinbrenners' fortune is tied up in the Yankees, which is MLB's most valuable franchise, worth $7.93 billion, according to Sportico.

Persons: Mark Walter, Steinbrenner, —, Walter, Magic Johnson, Stan Kasten, I'm, Johnson, George Steinbrenner, Hank Steinbrenner, Jessica Steinbrenner, Hal Steinbrenner, Jennifer Steinbrenner Swindal, Forbes, I've, Marc Lasry, Sportico, Banks, Goldman Sachs, Ivo Voynov Organizations: Dodgers, Yankees, Sports, Service, Guggenheim Partners, Forbes, Atlanta Braves, Los Angeles, MLB, Los Angeles Times, CBS, franchise's YES, Major League Soccer's New, Major League Soccer's New York City FC, Legends Hospitality, Italian soccer, AC Milan, Professional, Yankee, Milwaukee Bucks, Citi Private Bank Locations: Major League Soccer's New York, Italian

☆ Citi: time to embrace volatility and take positions off ice
▼ + stars: | 2024-10-21 | 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 EmailCiti: time to embrace volatility and take positions off iceCiti Private Bank's Toby Gresham lists sectors set to benefit as the interest rate cut cycle begins.

Persons: Toby Gresham Organizations: Citi

☆ Citi Private Bank: Potential for Chinese market rally to continue into year-end
▼ + stars: | 2024-10-01 | 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 EmailCiti Private Bank: Potential for Chinese market rally to continue into year-endCarl Ashton from Citi Private Bank discusses the recent rally in the Chinese market on the back of the PBOC's new stimulus. He adds that depending on the effectiveness of the PBOC's fiscal policies, the rally may even extend until 2025.

Persons: Carl Ashton Organizations: Citi Private Bank

☆ Family offices could be the new hedge funds, says Citi's Hofmann
▼ + stars: | 2024-09-30 | 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 EmailFamily offices could be the new hedge funds, says Citi's HofmannHannes Hofmann, global head of Family Office Group, Citi Private Bank, discusses the firm's latest report on family offices, and explains why his outlook for their investments is positive.

Persons: Citi's Hofmann Hannes Hofmann Organizations: Family Office Group, Citi Private Bank

☆ As interest rates drop, ultra-rich investors are giving up their cash for risk assets. Here's what they're buying.
▼ + stars: | 2024-09-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Citi Private Bank's latest Global Family Office survey showed that family offices had already been moving into risk assets well before the central bank began cutting. Citi Private Bank's latest Global Family Office survey. Related storiesSo far, the move toward equities has translated into a rush for big tech's AI, which remains a favorite among family offices. AdvertisementWhen it comes to real estate, family offices often prefer private investments. AdvertisementFixed incomeThe number one goal for any family office is the preservation of capital.

Persons: —, Richard Weintraub, Bank's, haven't, Weintraub, REITs Organizations: Service, Citi, Bank's, Business, Treasury Locations: American

☆ Family offices are the most bullish they've been in years, survey says
▼ + stars: | 2024-09-20 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Family offices are the most bullish they've been in years, putting their cash to work in stocks and alternatives as the Fed starts to cut interest rates, according to a new survey. Nearly all family offices, 97%, expect positive returns this year, and nearly half expect double-digit gains, according to Citi Private Bank's 2024 Global Family Office Survey. With interest rates heading down, family offices are also regaining their appetite for stocks. More than a third, 39%, of family offices plan to increase their allocation to developed-market equities, mainly the U.S., while only 9% plan to trim their equity exposure. That comes after 43% of family offices increased their exposure to public stocks last year.

Persons: Robert Frank, they've, Hannes Hofmann Organizations: Citi, Citi Private Bank

☆ Citi Private Bank: Caution ahead of election
▼ + stars: | 2024-09-11 | 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 EmailCiti Private Bank: Caution ahead of electionToby Gresham, Investment Counselor Team Lead at Citi Private Bank, gives his take on Trump-Harris presidential debate, giving a word of caution against positioning ahead of the election. He also predicts an EPS tailwind in the year ahead, with potential issues regarding labor supply.

Persons: Toby Gresham Organizations: Citi Private Bank, Trump

☆ Wealthy investors find opportunities in stock market sell-offs
▼ + stars: | 2024-08-09 | by ( Robert Frank | ) www.nbcnews.com time to read: +7 min

Wealthy investors and family offices shied away from stocks leading up to market swings this week, but many saw the drop in prices as an opportunity for tax savings and estate planning, according to wealth advisors. When stocks tumbled Monday, with the S&P 500 and Nasdaq down 3%, wealthy investors neither panicked nor jumped in to buy, according to several advisors. The drop in prices last Friday and Monday also offered a chance for wealthy investors to take advantage of tax benefits and gift strategies. With the gift and estate exemption amount scheduled to expire at the end of next year, many wealthy investors are working to give away the maximum before the expiration. “Most family offices are so invested in alternatives, hedge funds, PE and real estate, that they aren’t moving their investments around anyway,” said Geoffrey von Kuhn, an advisor to several of the nation’s largest family offices.

Persons: ‘, ’ ”, Sean Apgar, ” Apgar, BBR, —, William Sinclair, ” Sinclair, ”, Jennifer Povlitz, Geoffrey von Kuhn, Richard Weintraub, ” Weintraub, Buffett, Michael Pelzar, ” Pelzar, “, Jimmy Chang Organizations: UBS, Deloitte, Nasdaq, BBR Partners, Morgan Private Bank, Big Tech, “, UBS Wealth Management, Americas, Citi Private Bank, Bank of America Private Bank, ” Advisors, Rockefeller Global Family Locations: U.S, J.P

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ 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

☆ Global family offices have made a 'shift back out of cash into risk assets' in last 3 months: Citi
▼ + stars: | 2023-11-30 | 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 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

☆ Rates will come down by the middle of 2024, global head of Citi Private Bank says
▼ + stars: | 2023-11-08 | 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 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

☆ 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

☆ The rich are competing with private equity to buy sports teams. Here is how they are getting creative in a crowded field.
▼ + stars: | 2023-09-06 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

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

☆ We're constructive on U.S. stocks but global stocks are still the 'major opportunity,' Citi says
▼ + stars: | 2023-07-28 | 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 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

☆ U.S. not expected to slip into recession until end of 2024, Citi Private Bank says
▼ + stars: | 2023-06-30 | 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 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

☆ 4 of the world's elite investors agree on the biggest risks that will cause the next recession. Here's how they're each protecting clients with over half a trillion in combined assets.
▼ + stars: | 2023-05-05 | by ( William Edwards | Akin Oyedele | ) www.businessinsider.com time to read: +6 min

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.

☆ Premarket stocks: Why these bank stocks aren't getting crushed
▼ + stars: | 2023-05-04 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

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.

☆ Flight to 'what are perceived to be safer assets' could cost in the long term, Citi says
▼ + stars: | 2023-04-10 | 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 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."

☆ Nomura names Rudolf Hitsch North Asia head of wealth management
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: 1 min

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."

Search resuls for: "Citi Private Bank"

25 mentions found