Citi Private Bank, a subsidiary of multinational banking conglomerate Citigroup, markets Private banking services for ultra-high net worth 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. 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 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. Its Capital Markets group provides clients services in fixed income, equities, and foreign exchange, among other areas.
In October 2017 it was named Best Private Bank for Customer Services and Best Global Brand in Private Banking.
As of October 2014, Peter Charrington is the Global Chief Executive Officer of Citi Private Bank.
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Source of the article : Wikipedia
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