Citi Partners with BlackRock to Offer Customized Portfolio Solutions to Wealth Clients Globally

Citi Wealth has selected BlackRock to manage $80 billion in assets for thousands of clients. The partnership combines Citi's strategic investment advisory and planning capabilities with BlackRock's investment management and technology strengths. BlackRock will manage a range of investment strategies and deploy its Aladdin Wealth technology platform. Citi clients will maintain a primary relationship with their Citi Private Banker while BlackRock implements tailored investment strategies. The agreement aims to benefit clients and accelerate growth at both firms.

Citi Wealth has announced a strategic partnership with BlackRock, a global leader in investment management and technology, to manage approximately $80 billion in assets for thousands of Citi Wealth clients. This collaboration combines Citi's strategic investment advisory and planning capabilities with BlackRock's renowned investment management and technology strengths.

Under the agreement, BlackRock will manage a range of core, opportunistic, and thematic investment strategies across Equities, Fixed Income, Multi-Asset Class strategies, and, over time, Private Markets. BlackRock's Aladdin Wealth technology platform, known for its advanced risk, portfolio management, and data insight capabilities, will be deployed to Citi's Private Bankers and investment professionals [1].

Citi Wealth clients will maintain their primary relationship with their Citi Private Banker, who will advise on overall wealth approach, including strategic asset allocation and long-term financial goals. BlackRock will be responsible for managing and implementing specific investment strategies tailored to meet the objectives of Citi Wealth clients [1].

This partnership aims to benefit clients by providing access to a wide range of investment options and strategies, leveraging BlackRock's leadership in portfolio construction and the management of customized portfolios. Certain members of Citi Investment Management (CIM) will join BlackRock, continuing to serve as portfolio managers on existing strategies for Citi clients. Additionally, Citi and BlackRock will develop new products and solutions for the benefit of Citi clients by leveraging BlackRock's scale, infrastructure, and capabilities [1].

Andy Sieg, Head of Wealth at Citi, commented, "We want to bring best-in-class advice, solutions, and service to our clients, and we want to serve more of the world’s changemakers. This offering brings together the sophisticated relationship-driven and market-based advice of our bankers, backed by the insights of our own Chief Investment Office, with the renowned investment expertise and innovative technology capabilities of BlackRock" [1].

Sir Robert Fairbairn, Vice Chairman at BlackRock, expressed excitement about the partnership, stating, "We’re excited to be selected by Citi to bring BlackRock’s extensive suite of investment solutions and innovative financial technology to clients, enabling Citi to deliver customized portfolios and strong investment outcomes across Wealth" [1].

The agreement is expected to begin in the fourth quarter of 2025, subject to customary approvals and conditions, and is not expected to have a material impact on Citi's previously disclosed revenue or return targets [1].

References:
[1] https://www.marketscreener.com/news/citi-to-deliver-new-customized-portfolio-offering-powered-by-blackrock-to-citi-wealth-clients-global-ce7d59d8db8ef52d