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.
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WASHINGTON (dpa-AFX) - Citigroup Inc. (C) reported that its fourth quarter net income declined 7% from the prior-year period, driven by the lower revenues, an increase in expenses, and a higher
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Bakkt projects an all-round growth with a 75% surge in revenue by 2025. This means the value will be around $515 billion with a cash-flow positive expected to take effect in 2023.
On January 8, 2021, Bitcoin staged an unprecedented bull run to trade around $41,941 dominating the cryptocurrency market that was enjoying a record market cap of $1.1 trillion. The high addition of gains within a very short time coupled with the trillion market cap got some investors worried over what they claimed to be an impending burst. Despite the pullback expectations, Bakkt in their recent projection predicted a massive growth of around threefolds for the crypto market by 2025. If this happens, then the 6-digit trading price of Bitcoin predicted by experts would materialize.