Citi Private Bank recently formed the Citi Private Capital Group to provide institutional service to private investment companies, family offices and pools of private capital. Since the onset of the COVID-19 pandemic, the group has been helping clients with proactive investment advice, sophisticated hedging strategies, and other strategic capital markets solutions, while also keeping these clients connected to a global network of peers.
As part of Citi’s Institutional Clients Group, the Citi Private Capital Group is able to provide clients with institutional access and opportunities in both the public and private markets. Over the last several months, the group has received a heightened level of client inquiries around what other Single Family Offices are doing especially regarding commercial real estate and liquidity solutions.
“As the world’s wealthiest individuals, families and their family offices continue to evolve, their needs are changing,” said James Holder, Global Head of Citi Private Capital Group, Citi Private Bank. “Our firm is well-positioned to draw upon the resources of our franchise to provide sophisticated advice, execution and analytics to manage the increasing complexity these clients are facing. We are especially proud of the group’s efforts during this crisis to work in new ways to keep us on track to deliver the best results for our clients.”
As the amount of capital controlled by family offices increases, they are building sophisticated teams and investment strategies across every asset class. As a result, this client segment requires institutional capabilities and services in addition to their traditional private banking needs.
“Our Private Capital Group is one of our greatest growth drivers for the North America business and will deliver sophisticated global and institutional investment opportunities to our largest family office clients,” said Ida Liu, Head of the North America, Citi Private Bank.
Families and private companies have become more global. Citi Private Capital Group has on-the-ground expertise to assist in strategic locations in North America, Latin America, Asia and Europe, Middle East and Africa.
“As a part of the Institutional Clients Group, we have the institutional capabilities that our clients need combined with the personalized service we provide as part of Citi Private Bank. We strongly believe that these wealthy families should have the same access to trading and banking services afforded to hedge funds, private equity sponsors and other institutional clients,” said Paul Barrett, Head of North America, Citi Private Capital Group, Citi Private Bank.
Citi Private Bank recently announced the creation of the Direct Private Investments business to effectively distribute private deals and deepen wallet share with this important client segment. The Direct Private Investments business, led by Itay Blasenheim, will work with the Private Capital Group to identify opportunities for family offices and private investment company clients to actively invest in direct private deals.
The formation of the Citi Private Capital Group builds on Citi Private Bank’s long-established Family Office Advisory practice. The group continues to provide advisory services including family office creation and organizational design, leadership and succession planning, strategic planning and multi-generation wealth preservation and governance.
Citi Private Bank clients also have access to its Global Investment Lab, a 40-person team dedicated to providing institutional-level portfolio analytics to eligible private clients.
“Our Lab for Family Offices provides dedicated analytics and insights by collaborating across the firm to deliver bespoke institutional asset allocation and strategies to families and family office clients,” said Viswanathan Venugopala, Head of Global Investments Lab for Family Offices, Citi Private Bank.
Citi Private Bank serves more than 1,400 family offices and private investment companies in more than 80 countries.
About Citi Private Bank:
Citi Private Bank is dedicated to serving worldly and wealthy individuals and families, providing customized private banking across borders. With around $500 billion in total client business, the franchise serves clients across 50 cities in over 100 countries. Citi Private Bank helps clients grow and preserve wealth, finance assets, make cash work harder, safeguard assets, preserve legacies, and serve family and family business needs. The firm offers clients products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance, banking and aircraft finance, art advisory and finance, and sports finance.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Citi Private Bank Communications