Empowering Growth Across Borders

The world’s ultra-high net worth individuals and families share common values and behaviors. They have an inherent desire to drive progress and make the world better for others while being increasingly global in their presence, thinking and activity.

Ultra-high net worth families are growing businesses in multiple jurisdictions, buying homes in different regions and helping others via their philanthropy across the globe.

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At the same time, they seek to preserve and grow their wealth. At the core of this is building a portfolio of investments diversified by geography, asset class and more.

This makes for a complex set of needs, as such individuals and their families’ activities usually span at least two regions of the world. Having a wealth partner with a broad international presence as well as local knowledge and execution capabilities is becoming more critical for these families.

“Many of our clients are drawn to our global footprint, as they have family members living overseas, their businesses are regional or global, and they own assets such as commercial and residential real estate internationally,” says Money K, Head of Citi Private Bank’s Global Client Service. “For ultra-high net worth families, thinking global is the norm. They look at the world as a palette of opportunities for wealth preservation as well as income generation.”

According to various market studies, a significant inheritance of wealth is on the horizon, with younger generations poised to receive as much as $84 trillion in assets. This forthcoming financial shift, known as the Great Wealth Transfer, will see a new generation in control of unprecedented levels of wealth – a generation who tend to have a more international mindset than their parents, often having moved or studied abroad. Fortunately, Citi Private Bank understands what the generational needs are of ultra-high families. After all, one-third of the world’s billionaires and more than 1,600 family offices put their trust in the institution.

Through its Global Client Service, Citi Private Bank offers clients additional private banking teams that work collaboratively to serve their local needs. Clients might be based in New York, Los Angeles, London, Dubai, or Hong Kong – among many other places – but the Global Client Service serves as a primary relationship manager close to home, orchestrating a global team of bankers and specialists.

“Multiple relationship teams working together as one from multiple locations across the world makes it easy for our clients, as there is consistency in the service and delivery, and they are familiar with Citi’s culture,” adds Money K.

Citi Private Bank has access to Citi’s on-the-ground coverage across 95 countries, including trading floors in 77 nations. This enables them to assist clients with wealth planning, traditional banking and lending services and investment management. This includes enhanced local access for qualified clients to capital markets and alternative investment opportunities that are usually inaccessible to those from outside a certain region.

Real estate is often an integral component in the wealth strategies of ultra-high-net-worth individuals. Citi Private Bank’s clients have the opportunity to access a platform that includes commercial and residential real estate financing, which can assist in the purchase of residences that support their family members and their businesses in multiple markets.

Borderless activities and wealth management needs may be a growing trend, especially for younger generations who have long embraced a global lifestyle, but it’s no less impactful to the older generations who will soon pass down that wealth. “Many entrepreneurs are digital nomads now, and they are considering multiple retirement destinations,” Money says. “They need to manage their money remotely and work with a bank present in these different parts of the world. An important benefit of our Global Client Service is the ability for our clients to have a consolidated view of their accounts across jurisdictions. This empowers them to make better decisions.”

And as younger generations are becoming more involved in family businesses, those enterprises are often establishing new offices overseas. Having the ability to easily link those local accounts and to access (and disperse) funds from one global market to the next is invaluable. “Families are expanding their horizons in terms of business,” Money K explains. “They’re setting up family offices in more than one location. When family members are located around the world, they want efficient wealth services across the globe as well.”

“We are increasingly seeing demand from wealthier clients for institutional services including corporate and investment banking, trade, treasury and capital markets solutions from our global trading floors,” says Money K. “The combination of private banking and institutional capabilities forms a powerful proposition for the world’s wealthiest clients, including their family offices.”

Despite a recent slowing of globalization caused by supply-chain disruptions, heightened sanctions and increased tariffs, ultra-high net worth families are not deterred. They remain steadfast in their global mindset and increasingly borderless in their activities.

As their family, businesses and assets become ever more diverse in their presence, new patterns of wealth management and preservation are emerging. Partnering with an institution that has deep expertise in multiple regions to provide local insights and execution is critical, and many are recognizing the value of Citi Private Bank’s Global Client Service.


Views, opinions and estimates expressed herein may differ from the opinions expressed by other Citi businesses or affiliates. The information contained herein is not intended to be an exhaustive discussion of the concepts mentioned herein or tax or legal advice. Readers interested in the concepts should consult their tax, legal or other advisors. You can read our full disclaimer here.

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