Private Banks
Citibank
An independent review of Citibank by our team of experts
Book a Discovery CallSummary
Founded in New York in 1812, Citibank is the consumer arm of Citigroup, a multinational banking and financial services group formed by the 1998 merger of Citicorp and the Travelers Group.
Citigroup has total assets of around USD 2.4 trillion and over 200,000 employees worldwide, and is one of the world's largest custodians, with around USD 24 trillion of assets under custody and administration. Its Global Wealth business holds close to USD 1 trillion in client assets.
Citibank provides a broad range of individual and institutional banking and financial services.
Pros
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Global access
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Strong retail network
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Globally recognised brand
Cons
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Likely higher fees
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Not the best way to invest
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Pushes its own products
Our verdict
Citibank is a very large bank with a globally recognised brand, and that scale makes it a credible option for senior international investors who value reach and familiarity.
The limitation is the familiar one for a universal bank. Your banker can offer Citi's own products and services rather than the best available in the open market, which tends to push fees higher. Private bankers at an institution like this also frequently come from a retail banking background, which is not the same as deep private-client expertise.
The underlying point is structural. A bank sells what a bank holds. Serious wealth work begins one level up, with the whole picture coordinated across your investments, structures, pensions, protection and succession, and with advice that answers to you rather than to a product shelf.
If you are already a private banking client of Citibank, a no-obligation Second Opinion will show whether your portfolio still serves your plan, or whether the plan was ever the starting point. AES will also review the thinking that led to the investments you currently hold.
FAQs
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Who is Citibank private banking for?
- Citibank’s private banking services are mainly aimed at wealthy individuals, family offices, professional investors, and lawyers and law firms.