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Citi Creates Citi Global Wealth to Manage all Global Wealth Units, Including Citi Private Bank

16th January 2021 | Hong Kong

Citi, one of the world’s largest bank and often referred to as Citibank, has created a single business unit to manage all global wealth units, including Citi Private Bank.  The new unit Citi Global Wealth, will integrate wealth management teams from Global Consumer Banking and Institutional Clients Group, to serve all segments of clients from affluent clients to ultra-high net worth (UHNW) clients.

” Citi Creates Citi Global Wealth, including Citi Private Bank, to manage all global wealth units “


Jim O’Donnell, Head of Citi Global Wealth

The new business unit Citi Global Wealth including Citi Private Bank and Citi Personal Wealth Management, will be led by Jim O’Donnell who assume the role of Head of Citi Global Wealth.  Prior to taking on the role, he was the Global Head of Investor Sales and Relationship Management, responsible for the distribution of Global Markets products to Citi’s Equities, Fixed Income, Currencies and Commodities clients.

Jim O’Donnell had joined Citi more than 20 years ago in 1999.  He will report to CEO of Global Consumer Banking, Anand Selva and CEO of Institutional Clients Group, Paco Ybarra.



Citi Head of Citi Global Wealth Jim O’Donnell:

“Our clients are increasingly global in their presence and in their financial needs, and we are committed to helping them preserve and build wealth for themselves, their families and for future generations.

Creating a unified Wealth organization will help us to deliver the full, global power of Citi to clients while ensuring that we preserve the products, capabilities and expertise of the Private Bank and Consumer Wealth businesses.”


Citi CEO Michael Corbat and Citi President and Incoming CEO Jane Fraser:

“Making wealth management a key differentiator and source of enhanced returns for Citi will be an important element of our strategy going forward, and putting the full force of our firm behind an offering in this way is indicative of the approach we’re taking to transforming our bank.”


Citi Private Bank

The World of Billionaires

Citi’s Private Bank serves the world’s wealthiest individuals, families and law firms.  Citi Private Bank has around $550 billion AUM (Assets under Management), serving more than 13,000 UHNW clients, including 25% of the world’s billionaires and more than 1,400 family offices across 50 cities in over 100 countries.

Citi Private Bank focuses on clients who have an average net worth above $100 million, with clients gaining access to a highly customized experience and a comprehensive range of products and services including investments, banking, lending, custody, wealth planning, real estate, art, aircraft finance and lending, personalized advice, competitive pricing and efficient execution.


Citigold, Citigold Private Client and Citi Priority

Citi Global Consumer Bank, with Citigold, Citigold Private Client and Citi Priority, provides institutional grade, personalized wealth management services to clients, which includes dedicated Wealth teams, fund access and a range of exclusive privileges, preferred pricing and benefits to clients around the globe.

Citi’s Global Consumer Bank has approximately $200 billion in AUM (Assets under Management) globally and serves clients in the United States, Europe, the Middle East, Asia and Mexico.


In Asia-Pacific: Citi CEO APAC Peter Babej

Shanghai, China

In 2019, Citi appointed Peter Babej, who was Citi’s Global Head of Financial Institution Group, as CEO of Citi Asia-Pacific.  In 2019, Citi’s APAC business contributed around 20% of revenue and nearly 1/3 of Citi’s net income.

Citi’s wealth management senior leadership team in Asia-Pacific includes Fabio Fontainha who is the Head of Retail Banking for Asia-Pacific and Europe, Middle East and Africa (EMEA), Chan San San who is the Head of Citigold Private Client for Asia, Europe, Middle East and Africa and Steven Lo who is the Regional Head of Citi Private Bank APAC and Lee Lung Nien who is the Chairman of South Asia Citi Private Bank.

Citi APAC Wealth Management Leadership Team
  • Peter Babej, CEO of Citi Asia-Pacific
  • Fabio Fontainha, Head of Retail Banking for APAC and EMEA
  • Chan San San, Head of Citigold Private Client for Asia and EMEA
  • Steven Lo, Regional Head of Citi Private Bank APAC
  • Lee Lung Nien, Chairman of South Asia Citi Private Bank


Recent Citi News

List of Private Banks




Founded in 1812, Citigroup is one of the world’s largest bank with more than 200 million customer accounts and around 200,000 employees in more than 160 countries and jurisdictions.  It is listed on the New York Stock Exchange (NYSE) and has a market capitalization of $124.2 billion (15/12/20).  In 2019, Citigroup reported total revenue of $74.2 billion and net profit of $19.4 billion.



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