Citi’s wealth unit selling its trust business: report

The bank has been on a selling spree since 2022.

Citigroup’s wealth unit is selling its trust administration and fiduciary services business, the bank said in a statement.

"To enhance our focus on delivering the wealth structuring advice that matters most to our global clients, Citi Wealth has initiated a process to sell our trust administration- fiduciary services platform,” the bank said, reports Reuters, based on a statement released on 9 August 2024.

The move is the latest in a series of sales made by Citi since 2022.

Citigroup has been selling its international retail banking businesses across a dozen markets and decided to close its municipal securities business early in 2024.

Read more from Reuters.

Follow the link s for more news on

Citi

Citi Global Wealth

Citibank

Citigroup

Also Read

Japanese banks seek M&As overseas

HSBC India launches premium credit card for private banking clients

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit