Citi Private Bank - Competitor Profile

Citi Private Bank - Competitor Profile

Summary

GlobalData’s 'Citi Private Bank - Competitor Profile' provides a comprehensive analysis of Citigroup’s wealth operations. It offers insight into the company’s strategy and financial performance, including key data on assets under management (AUM). Customer targeting and service propositions are covered, as are product innovation, marketing activities, and other key company details.

Citi Private Bank is part of Citigroup’s Institutional Clients Group, reflecting the bank’s strategy of leveraging institutional banking capabilities to serve ultra-high-net-worth (UHNW) clients. The lower segments of the market are served by brands that sit within Citibank’s retail banking business.

Scope

  • Citi Private Bank mainly focuses on UHNW customers with assets of at least $25m. The bank also requires its clients to hold a minimum of $5m-10m (depending on the market) in assets in accounts and products managed by Citigroup.
  • To facilitate effective wealth management during the COVID-19 crisis, in June 2020, Citi Private Bank formed the Citi Private Capital Group to provide institutional services to private investment companies, family offices, and pools of private capital. It is majorly focusing on family office clients by developing experienced teams that deliver advanced investment strategies across every asset class.
  • Citigroup’s growing focus on digitalization and launch of digital investing platform Citi Wealth Builder in January 2020 will substantially strengthen its wealth offering worldwide. Citi Wealth Builder offers goal-based financial assistance and helps clients meet their financial goals.
  • North America (Canada and the US) is the biggest market for Citi Private Bank, both in terms of AUM and revenues.
  • Citigroup also continues to focus on its wealth business in Asia, underpinned by digitalization. Citigroup is expecting a 10% increase in new clients and assets in Asia in 2020.
Reasons to Buy
  • Examine the financial performance, key ratios, and AUM growth for Citi Private Bank and benchmark this competitor against other global wealth managers.
  • Understand Citi Private Bank’s current strategic objectives and their impact on financial performance.
  • Discover Citi Private Bank’s key products and client targeting strategies and examine whether these have been successful.
  • Learn more about Citi Private Bank’s marketing strategy, social media presence, and digital innovations.


Executive Summary
Strategy
Financial Performance
Customers & Products
Marketing & Advertising
Appendix

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