Citibank personal wealth management has entered a period of significant transformation in 2025. From high-profile partnerships to strategic leadership hires, Citi is reshaping how it delivers wealth services to individuals, families, and institutions across the globe. With $80 billion in assets shifting to BlackRock, senior executives joining from Goldman Sachs and BNY, and a stronger focus on family office services, Citi is taking bold steps to align with evolving client expectations.
These moves highlight Citi’s commitment to providing more specialized, technology-driven, and globally competitive services in one of the most lucrative areas of modern banking—wealth management.
The Strategic Shift: Citi and BlackRock Join Forces
The most headline-grabbing development in 2025 is Citi’s decision to transfer $80 billion worth of assets from its in-house wealth management arm to BlackRock.
- Scope of the move: Portfolios that were previously under Citi Investment Management will now be managed by BlackRock.
- Technology advantage: Clients will benefit from BlackRock’s Aladdin platform, one of the most advanced risk management and portfolio analysis systems in the world.
- Division of roles: Citi continues to own the advisory relationship with clients, focusing on personalized planning and strategy, while BlackRock takes care of the investment management execution.
This partnership reflects a global trend: major banks are increasingly outsourcing parts of their investment operations to specialized asset managers while doubling down on advisory and client experience.
Why Outsourcing Asset Management Matters
For decades, many banks kept investment management functions in-house. However, the financial services landscape has changed dramatically:
- Cost pressures have forced banks to rethink which functions are most profitable.
- Clients demand transparency and advanced analytics—something BlackRock’s platforms can provide.
- Global diversification is more complex, requiring asset managers with vast networks and resources.
By handing asset management duties to BlackRock, Citi is signaling a focus on where it believes it can add the most value—relationship building, customized financial strategies, and holistic wealth planning.
Leadership Upgrades: Experienced Talent Joins Citi Wealth
Citibank personal wealth management is also strengthening its leadership team. In September 2025, Citi announced two key hires:
- Christine Curtiss: Formerly at BNY, she takes over as Head of Asset Manager Relationships. She will play a pivotal role in building deeper collaborations with external managers.
- Kate Boucher: Coming from Goldman Sachs Asset Management, she joins as Global Head of Alternative Investment Sales. Her expertise is expected to expand Citi’s reach into private equity, hedge funds, and other alternative investments.
These appointments reflect Citi’s intention to be more aggressive in the alternatives space and more open to third-party collaborations—two areas where clients increasingly seek opportunities.
Global Family Office Insights: What Wealthy Clients Want
Every year, Citi surveys global family offices to understand shifting priorities. The 2025 Global Family Office Report offers a timely perspective:
- Portfolio resilience is the top priority amid ongoing geopolitical tensions and volatile markets.
- Professionalization of investment teams is growing, with many family offices hiring full-time investment professionals rather than relying solely on external managers.
- Non-investment needs are becoming more important, including succession planning, philanthropy, and family governance.
- Risk management is now central to family office strategy, especially as wealth becomes more global and multi-generational.
These insights are critical for Citi, as they highlight areas where its advisory services can add value beyond traditional investment products.
Client Benefits of Citi’s New Approach
For Citi clients, the changes happening in personal wealth management bring both new opportunities and challenges.
Key Benefits
- Advanced tools: BlackRock’s technology brings real-time data, stress testing, and deeper analytics.
- Greater advisory focus: Citi bankers can spend more time crafting personalized strategies.
- Access to alternatives: With a Goldman veteran leading alternatives, clients may gain wider exposure to private equity, real estate funds, and hedge strategies.
- Stronger family office solutions: Citi is aligning its services to match the governance and operational needs of multi-generational families.
Potential Concerns
- Transition risks: Moving assets can involve short-term disruptions.
- Fee structures: Clients must monitor whether costs rise under the BlackRock model.
- Performance variations: BlackRock’s models may differ from Citi’s, potentially altering outcomes.
How Citi Compares to Its Rivals
The wealth management industry is intensely competitive, with rivals like UBS, Goldman Sachs, and Morgan Stanley all expanding aggressively.
- UBS recently completed its integration with Credit Suisse, creating the world’s largest wealth manager.
- Morgan Stanley has invested heavily in technology platforms and alternative investments.
- Goldman Sachs has repositioned its consumer banking strategy to strengthen private wealth offerings.
Citi’s approach—outsourcing asset management while focusing on advisory—sets it apart. While some competitors still keep asset management largely in-house, Citi is betting that partnering with a global giant like BlackRock will allow it to scale faster and operate more efficiently.
The Bigger Picture: Why Wealth Management Matters to Citi
Wealth management is no longer a side business for major banks—it’s a core growth engine. For Citi, this transformation is part of CEO Jane Fraser’s larger strategy to simplify operations and focus on profitable areas.
- Revenue growth: Wealth generates steady fee income, making it more resilient than volatile trading businesses.
- Cross-selling opportunities: Wealth clients often use other Citi services like private banking, lending, and estate planning.
- Global reach: Citi has a unique international footprint, giving it access to clients in both mature and emerging markets.
By focusing on wealth, Citi is aligning itself with long-term industry trends and positioning itself to capture growth from rising global wealth, especially in Asia and the Middle East.
What Clients Should Do Now
If you are a Citi client—or considering becoming one—here are some practical steps to take during this period of change:
- Review your portfolio: Understand how the shift to BlackRock might impact your allocations.
- Ask about fees: Ensure you’re clear on any adjustments in pricing.
- Stay in touch with advisors: Citi wealth managers remain your main point of contact.
- Consider new opportunities: Explore whether expanded access to alternatives and family office services could benefit your goals.
Looking Ahead: Key Milestones to Watch
- Q4 2025: Start of the BlackRock asset transfer process.
- 2026: Potential roll-out of new family office services and expanded alternatives platform.
- Client feedback: Industry analysts will be closely watching whether clients report satisfaction with the changes.
If successful, Citi’s transformation could become a model for other banks considering a hybrid approach to wealth management.
Conclusion
The transformation of Citibank personal wealth management is one of the most important shifts in global finance this year. By handing $80 billion in assets to BlackRock, recruiting leaders from top rivals, and aligning with the needs of family offices, Citi is setting a bold new course.
The big question remains: will these changes deliver stronger outcomes for clients, or will challenges in execution slow progress? As this strategy unfolds, clients and industry watchers alike will be paying close attention.
What are your thoughts on Citi’s approach? Do you see this as a smart move that gives clients more, or a risk that could disrupt service quality? Share your perspective below and join the discussion.
FAQ
Q1: When will the transfer of assets to BlackRock begin?
The $80 billion transfer is expected to start in the fourth quarter of 2025.
Q2: Will I still work with my Citi wealth advisor?
Yes. Your relationship manager remains the same. The change affects who manages the assets, not your advisory connection.
Q3: Does this mean higher fees for clients?
Not necessarily. Fees are still being reviewed, but clients should monitor disclosures to understand potential adjustments.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Clients should consult directly with Citibank or licensed professionals before making investment decisions.