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Citi Private Bank

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Citi Private Bank
Company typeSubsidiary of Citi Institutional Clients Group
IndustryWealth Management
Headquarters
New York
,
USA
Area served
Private Banking, Law Firm Group, High-net-worth individual
Key people
Peter Charrington, CEO
Productsinvestments, lending, banking, financial advisors
Websitehttp://www.citiprivatebank.com

Citi Private Bank, a subsidiary of multinational banking conglomerate Citigroup, markets private banking services for wealthier clients, including entrepreneurs and senior corporate executives. It has 60 offices in 23 countries. To qualify for a Citi Private Bank account, one must have a net worth of at least US$25 million. This requirement is waived for law firm clients and qualified high-net-worth individual clients.[1][2][3][4] Citi Private Bank's major competitors are JP Morgan Chase, Goldman Sachs, United States Trust Corporation, UBS, and HSBC Private Bank.

Its private banking services are divided between high-net-worth clients and Law Firm groups, which focus on servicing the needs of high-net-worth individuals and law firms and their lawyers. Formerly part of Global Wealth Management, Citi Private Bank is now part of Citi's Institutional Clients Group. Therefore, Citi Private Bank clients are treated as institutional investors rather than consumer banking clients. The Citi Private Bank's Investment Solutions group provides investment advisory services to the bank's clients. Its Capital Markets group provides clients services in fixed income, equities, and foreign exchange, among other areas.

In November 2012 it was named Global Private Bank of the Year by Professional Wealth Management.[5]

As of October 2014, Peter Charrington is the Global Chief Executive Officer of Citi Private Bank.[6]

See also

References

  1. ^ "Our Firm | Citi Private Bank". Privatebank.citibank.com. Retrieved 2013-07-17.
  2. ^ http://www.fins.com/Finance/Companies/560/Citi-Private-Bank
  3. ^ "Citi Looks to Boost Private Banking - WSJ.com". Online.wsj.com. 2010-11-18. Retrieved 2013-07-17.
  4. ^ McNamara, Kristen (May 27, 2006). "Push Is On to Advise The Very Wealthy". Wall Street Journal.
  5. ^ "Global Private Banking Awards 2012". Professional Wealth Management. Nov 11, 2012.
  6. ^ http://www.marketwatch.com/story/peter-charrington-named-global-head-of-citi-private-bank-2014-09-08-915939


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