Citi Private Bank, a subsidiary of multinational banking conglomerate
Citigroup, markets
Private banking
Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
services for
ultra high-net-worth individual
Ultra-high-net-worth individuals (UHNWI) are defined as having a net worth of at least US$30 million in constant 2018 dollars. It is the wealth segment above very-high-net-worth individuals (greater than $5 million) and high-net-worth-individ ...
clients, including
entrepreneurs
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values t ...
and senior corporate executives. It has 60 offices in 23 countries. Citi Private Bank's major competitors are
JP Morgan Chase
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the w ...
,
Goldman Sachs,
Bank of America Private Bank,
UBS, and
HSBC Private Bank.
Products and services
Its
Private banking
Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
services are divided between ultra-high net-worth clients,
Family Office
A family office is a privately held company that handles investment management and wealth management for a wealthy family, generally one with at least $50-$100 million in investable assets, with the goal being to effectively grow and transfer ...
s 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
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.
References
External links
Citi Private Bank Website
{{Authority control
Citigroup