Citibank personal wealth management is undergoing significant transformation in 2025, marked by a powerful partnership with BlackRock, fresh leadership appointments, and an intensified focus on client-centric advisory. These changes reflect a strategic shift designed to strengthen Citi’s competitive position in the global wealth management market while adapting to evolving client needs.
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BlackRock to Manage $80 Billion in Assets
Citibank has announced the transfer of approximately $80 billion in assets from its in-house wealth management division to BlackRock. This move, set to begin in Q4 2025, represents a major milestone in how Citi handles its wealth clients’ portfolios.
- Portfolios previously managed by Citi Investment Management will now be powered by BlackRock’s advanced risk management technology and global investment expertise.
- Citi will continue to provide advisory, financial planning, and relationship management, while BlackRock will take over the direct asset management side.
- Clients may see enhanced risk modeling and efficiency through BlackRock’s renowned Aladdin platform.
This strategic realignment allows Citi to focus on its strength—personalized advisory services—while leveraging BlackRock’s scale and infrastructure to optimize portfolio management.
Leadership Changes to Strengthen Global Wealth
In addition to its asset transfer, Citibank has brought in senior executives from top institutions to reinforce its wealth management leadership team.
- Christine Curtiss, a former leader at BNY, will take charge as Head of Asset Manager Relationships beginning October 2025.
- Kate Boucher, who previously worked at Goldman Sachs Asset Management, will join in December as Global Head of Alternative Investment Sales.
Both executives bring years of experience in client solutions, alternative investments, and global wealth strategies. Their appointments highlight Citi’s determination to expand its influence in the alternatives market and build stronger partnerships with leading asset managers.
Global Family Office Report Insights
Citibank’s 2025 Global Family Office Report provides a snapshot of how high-net-worth families are adjusting to current economic conditions. Surveying 346 family offices across 45 countries, the report revealed several key trends:
- Greater emphasis on portfolio resilience amid global market uncertainties.
- Increased professionalization of investment management functions within family offices.
- Rising demand for operational support roles, including risk managers and specialists in non-investment services.
These findings suggest that ultra-wealthy clients are seeking not only strong financial returns but also stability, governance, and professional expertise to navigate a complex financial environment.
What These Changes Mean for Clients
The transformation of Citibank personal wealth management brings both opportunities and considerations for clients:
- Broader Expertise: Access to BlackRock’s advanced tools and global market insights.
- Improved Advisory Focus: Citi will dedicate more resources to personalized planning rather than direct portfolio management.
- Alternative Investments: With new leadership in alternatives, clients may see expanded opportunities in private equity, hedge funds, and other non-traditional investments.
- Operational Excellence: Citi is prioritizing family office solutions, which can support clients in areas beyond financial returns, such as succession planning and governance.
Challenges During Transition
While the strategy is bold, clients should remain aware of potential challenges:
- Transition Period: Moving portfolios to BlackRock may bring temporary adjustments and administrative complexities.
- Fee Adjustments: Changes in asset management structures could affect cost structures for some clients.
- Performance Variables: BlackRock’s models and strategies may differ from Citi’s, potentially leading to shifts in portfolio performance.
- Client Experience: Integration of new leadership and systems may take time to stabilize.
Strategic Goals Behind Citi’s Transformation
- Boost Profitability: By outsourcing asset management, Citi reduces costs while focusing on high-margin advisory services.
- Enhance Competitiveness: With rivals like UBS, Goldman Sachs, and Morgan Stanley expanding their wealth operations, Citi is positioning itself strongly.
- Align With Client Demands: Clients today seek more sophisticated advisory, risk management, and access to diverse investment opportunities beyond traditional stocks and bonds.
Future Outlook
Looking ahead, clients and industry watchers will be monitoring:
- The effectiveness of BlackRock’s integration and its impact on portfolio outcomes.
- Fee structures under the new arrangement and how they compare to Citi’s previous model.
- The growth of alternative investment adoption under new leadership.
- Client satisfaction and retention as Citi balances transition with service delivery.
Conclusion
The overhaul of Citibank personal wealth management marks a pivotal chapter for Citi and its clients. With BlackRock managing assets, new leaders steering innovation, and family office insights guiding strategy, Citi is redefining its role in wealth advisory. While challenges exist during the transition, the long-term vision points to a more specialized, advisory-driven model that could reshape how clients experience wealth management in the years to come.
What do you think—will Citi’s bold new strategy elevate client outcomes, or do the risks outweigh the rewards? Share your thoughts and join the conversation.
FAQ
Q1: When will Citibank’s asset transfer to BlackRock take place?
The transfer of $80 billion in assets is scheduled to begin in the fourth quarter of 2025.
Q2: Will Citi wealth clients still have their relationship managers?
Yes, Citi clients will keep their wealth advisors and bankers. The change mainly impacts who manages the underlying assets.
Q3: How will fees and investment performance be affected?
Exact details are not yet confirmed. Clients should review fee disclosures and monitor performance once BlackRock assumes management.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Clients should consult directly with Citibank or a licensed advisor before making investment decisions.