Citi Private Bank
TypeSubsidiary
IndustryPrivate banking
Wealth management
Area served
North America, Europe, the Middle East and Africa, Latin America, Asia
Key people
Ida Liu, Global Head of Private Banking[1]
ParentCitigroup[2]
Websitehttps://www.privatebank.citibank.com/

Citi Private Bank, a subsidiary of multinational banking conglomerate Citigroup, markets Private banking services for ultra high-net-worth individual clients, including entrepreneurs and senior corporate executives. It has 60 offices in 23 countries. Citi Private Bank's major competitors are JP Morgan Chase, Goldman Sachs, Bank of America Private Bank, UBS, and HSBC Private Bank.[3][4]

Products and services

Its Private banking services are divided between ultra-high net-worth clients, Family Offices and Law Firm groups, which focus on servicing the needs of ultra-high net-worth individuals, family offices 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 wealth advisory services to the bank's clients.

Account requirements

Citi Private Bank has a minimum investment level of $10 million and a total net worth requirement of $25 million.[5] This requirement is waived for law firm clients and qualified high net worth individual clients.[6][7][8]

References

  1. ↑ "Why Us - Citi Private Bank". www.privatebank.citibank.com. Retrieved 2022-02-25.
  2. ↑ "The power of Citi - Citi Private Bank". www.privatebank.citibank.com. Retrieved 2022-02-25.
  3. ↑ "Company Overview of Citi Private Bank". Bloomberg. 20 July 2018.
  4. ↑ "Citi Private Bank Shares Critical Insights into the World of Family Offices". BusinessWire. 1 May 2018.
  5. ↑ "Private Banking for Ultra-high net worth Individuals". www.privatebank.citibank.com. Retrieved 2023-07-19.
  6. ↑ Acosta, Francis Nikolai (2018-07-30). "As PBs up threshold, do boutiques move in?". Fund Selector Asia. Retrieved 2019-02-14.
  7. ↑ Osterland, Andrew (December 11, 2015). "World's Best Private Banks 2015". Global Finance Magazine. Retrieved 2019-02-14.
  8. ↑ Schultz, Abby. "Asia's Super Rich Focus of Private Banks Shakeup". www.barrons.com. Retrieved 2019-02-14.
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