This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Citigroup is transferring its final $80 billion in internally managed client assets to BlackRock, effectively closing its last in-house investment division. This strategic partnership marks a significant shift in how major banks structure their wealth management offerings. The move underscores the growing trend of outsourcing investment management to specialized firms.
- Eliminates Citigroup's last internally managed investment division
- Expands BlackRock's existing management of Citigroup's $635B client portfolio
- Affects thousands of Citigroup's highest-net-worth clients
📎 Related coverage from: bloomberg.com
Related Tags: BlackRock