Growing pains: How the Big Four banks plan to overcome size constraints americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
Citigroup leaves Malaysia and Indonesia markets as part of 13 markets exit Details 16 April 2021
Citigroup is exiting from 13 markets for its consumer banking operations for its Asia and EMEA regions, and will be focusing on its presence in four markets: Singapore, Hong Kong, the UAE and London. According to the banking company, this restructure is part of an ongoing strategic review and will allow the Citi to direct investments and resources to the businesses where it has the greatest scale and growth potential. The affected markets are: Malaysia, Indonesia, Thailand, Vietnam, Australia, Bahrain, China, India, Korea, the Philippines, Poland, Russia, and Taiwan. Citigroup’s institutional clients group will continue to serve clients in these markets, which the company said remain important to Citi’s global network .
Mortgage Business 19 January 2021
The global bank has merged the wealth management teams in global consumer banking and institutional clients divisions to form a single wealth management organisation.
Citi has unified the wealth teams from its global consumer banking and its institutional clients group to form a new wealth unit, Citi Global Wealth.
The single integrated platform now includes Citi Private Bank and Citi Personal Wealth Management businesses.
Citi Private Bank serves more than 13,000 ultra-high-net-worth clients, with around US$550 billion ($714 billion) in total client business. The group reported that its clients now include 25 per cent of the world’s billionaires and more than 1,400 family offices in more than 100 countries.
Citi merges wealth businesses investordaily.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investordaily.com.au Daily Mail and Mail on Sunday newspapers.