NEW YORK--(BUSINESS WIRE)--CitiPrivate Bank today announced new thought leadership content for executives in the family office industry. The world's wealthiest families are increasingly relying on these wealth office executives to manage their wealth and other family affairs.
This content will cover key insights into family office work and best practices, gathered through extensive research by Citi Private Bank's global family office division.
Peter Clive Charrington, global head of Citi Private Banking, said, “The family office industry manages trillions of dollars of assets around the world, often in secrecy and little public information about them. Family office executives often find themselves Constrained by this phenomenon. With the release of this insight, we believe that executives’ ability to meet the needs of their clients and their families will be further enhanced.”
Stephen Campbell, chairman of Citi Private Bank's global family office practice, said, "Family offices will have to provide more sophisticated and sophisticated services to the families they serve. Our family office team has the ability to run family offices and provide private banking First-hand experience with services and a unique understanding of the needs and issues they face. This allows us to collaborate effectively and provide tailored solutions to a wide range of needs.”
The new thought leadership content is inspired by the private bank's interactions with its 1,100 family office clients around the world.
The content will be disclosed digitally over a three-month period through a series of articles and white papers covering topics including:
- Plan a successful family office to provide wealthy families with the services they need
- The cost of creating and operating a family office and assessing whether it is value for money
- Why building a well-established family office can’t be based on executive experience alone
- Why family offices are increasingly relying on bespoke compensation packages to attract top executive talent that often go beyond financial incentives
- The risk of depleting family wealth within three generations and the role of eliminating nepotism in avoiding this risk
- What role does nurturing future leaders of the family play in protecting family wealth and influence and preventing internal disputes within the family?
- How executives can meet the family's desire to benefit society and return on investment
- The value of working with external partners in managing family wealth
Citi Private Bank Global Family Office Group is a team of family office experts across Asia, the Middle East, Europe and the Americas dedicated to advising family offices on best practices and enabling them to access private banking investments, Lending, banking, trust, custody and corporate advisory and financing services.
Citi Private Bank is one of the fastest growing private banks in the world, serving wealthy individuals and families around the world and delivering customized cross-border private banking services. This franchise business has approximately $460 billion in assets under management globally and has 48 offices serving clients in 116 countries. Citi Private Bank helps clients earn and preserve wealth, finance assets, make better use of funds to manage wealth, protect legacy, and meet the needs of families and family businesses through objective advice and a true open-frame investment platform. The company's products and services to clients cover capital markets, investment custody, portfolio management, trust and estate planning, investment and wealth management, banking and aircraft financing, as well as arts and sports consulting and financing services.
About Citigroup
Citigroup is a world-class bank serving approximately 200 million customers in more than 160 countries and territories around the world. Citigroup provides consumers, corporations, governments and institutions with a diverse range of financial products and services, including retail banking and credit, corporate and investment banking, securities brokerage, financial transaction services and wealth management.