SCOOP for Barron's: Citi's wealth management business is struggling to deliver even its most fundamental services efficiently, prompting a “deterioration” in client trust, according to details from an internal audit reviewed by Barron’s. The previously unreported results of a review the bank conducted with consulting firm EY this year show Citi’s wealth management arm is lagging behind competitors in core parts of the business. The report pinpointed issues ranging from a “cumbersome” account-opening process and a disorganized system for managing client information to a workforce that is not as lean as some competitors—even after sweeping job cuts. “Wealth is a core pillar of Citi’s strategy. Our leadership team is going deep to transform the business by putting strong programs in place and uncovering opportunities to improve,” a Citi spokesperson told Barron’s on Tuesday. A ton of details in here about this review. Please keep sending me feedback and tips at [email protected]!
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Vice President Talent Acquisition | Talent Attraction, Engagement, Diversity Effectiveness | Forbes Top 30 Talent Leaders of 2024
“This is an extraordinary time in global history. Over the next 10 years, the projection is there will be a hundred trillion dollars of new #wealth creation that happens around the world.” Hear from #LeadershipAtCiti - How is #technology changing the way #wealth is managed and what is Citi doing to lead the way. #GoodThingsHappen #WealthManagement: Growing, Preserving & Protecting #Wealth #CitiCareers #CitiProud #LifeAtCiti
Good Things Happen, E3 - Wealth Management: Growing, Preserving & Protecting Wealth
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Former Big-4 I Citigroup I UBS. Seasoned industry executive blending his unique industry & consulting background to position Banking, Wealth & Capital Markets firm CXOs for profitable growth & shareholder value creation.
In a higher for longer environment, WM space has heated up for non capital intensive advisory fee based revenue & convergence. The question remains how traditional wire houses can compete with nimble, boutique RIAs & Family Offices!
JPMorgan's #wealth management unit has signed on a Merrill Lynch #advisor team that managed $28 billion in client assets, potentially marking the largest advisor recruiting move in wealth management history. Ultra #HNWIs are highly #profitable but complex group and firms will target this segment to improve margins. Elias Ghanem Nilesh Vaidya Maxime Gaudin Sandeep Kurne Ashutosh Kukreti Aranya Adak Vaibhav Pandey
JPMorgan turns heads after signing powerhouse $28B team from Merrill - InvestmentNews
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Advisor to Financial Advisors considering changing BDs or RIAs or selling their business, CEO/Co-Founder at Bridgemark Strategies
Goldman Sachs is entering the RIA custodian space and is differentiating itself based on its substantial brand recognition and providing access to alternative products including lending capabilities. This expertise and support is beginning to resonate with Breakaways and their HNW clients. In a recent Financial Planning Magazine article, I weighed in on this topic. Read more by clicking below. Thank you to Dan Shaw and #FinancialPlanning for including my thoughts in this interesting article. #wealthmanagement #RIA #high-net-worth #recruiting #bridgemarkstrategies #goldmansachs #ria #custodian #financialadvisor
Attention, RIAs: Goldman wants to help you help HNW clients
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#McKinsey #Asianbankingandfinance #WealthManagement #Insurers #WealthTechs #Asiapacific It was a pleasure to speak to Asian Banking & Finance and share my perspectives on the rapidly evolving wealth management landscape in APAC. This region is poised to be the fastest-growing wealth management market globally, with about 50 percent of global personal financial assets driven by this region alone, amounting to approximately $81 trillion. But only ~20 percent of PFA is served through professional wealth management services, meaning there is the potential for wealth management penetration to increase by a huge 4-5 percent. What then do these new, discerning customers demand? Who else is defining their right to win in this space? Where are the emerging success stories? Watch the video here:
APAC wealth management integration set to grow by 5% in 2027
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Investor | Podcast Host | President & CEO | Retained Executive Headhunter & Recruiter | Leadership Development & Coaching | Specializing in Private Equity, Venture Capital, Family Office, EOS, AI, Blockchain & Web3
10 Years at US Bank: My Journey from CFO to Wealth Management Expert Join me as I share my experience working at US Bank for a decade and transitioning from my role as a CFO to becoming a wealth management expert. Discover the challenges and insights gained along the way. #USBankExperience #CFOtoWealthManagement #FinancialIndustryInsights #WealthManagementExpert #CareerTransition #BankingSector #FinancialServices #WealthAdvice #BankingExperience #ProfessionalGrowth
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Did you know the US is a priority market for the world's largest wealth manager? Learn the most common misconceptions and questions we hear from recruits about UBS Wealth Management.
UBS in the US
Founder & CEO @ Sekel Tech | Discovery Platform Data platform Demand Generation Platform
3wRebecca Ungarino sounds too familiar, 😊 across the globe and big banks -