Citi Wealth has announced a major strategic partnership with BlackRock that will reshape how investment services are delivered to its global client base. The collaboration, which centers around the launch of Citi Portfolio Solutions powered by BlackRock, represents a significant evolution in Citi’s wealth management offering. It brings together Citi’s deep expertise in financial planning and advisory services with BlackRock’s global leadership in investment management and technology.
Under the terms of the agreement, BlackRock will assume responsibility for managing approximately $80 billion in assets currently overseen by Citi Investment Management. These assets belong to thousands of Citi Wealth clients located across nearly 100 countries, reflecting the truly global nature of Citi’s private banking footprint.
While BlackRock will take the lead in managing a broad range of investment strategies—including core, opportunistic, thematic, and eventually private market portfolios—clients will continue to work closely with their Citi Private Bankers. These bankers will remain central to the client relationship, guiding overall wealth strategy, long-term financial planning, and asset allocation decisions.
One of the most transformative aspects of the partnership is the integration of BlackRock’s Aladdin Wealth platform into Citi’s advisory ecosystem. Aladdin Wealth is known for its sophisticated risk analytics, portfolio management tools, and data-driven insights.
By deploying this technology across its network of private bankers and investment professionals, Citi aims to enhance the precision, transparency, and responsiveness of its investment services. This move is expected to empower advisors with deeper insights and more robust tools, ultimately improving outcomes for clients.
The transition will also involve several Citi Investment Management professionals relocating to BlackRock, where they will continue to manage existing strategies for Citi clients. This continuity ensures that clients will benefit from familiar expertise while gaining access to BlackRock’s broader infrastructure and resources. Over time, Citi and BlackRock plan to co-develop new investment products and solutions tailored to the evolving needs of Citi’s global clientele. These offerings will be designed to leverage BlackRock’s scale and innovation, while remaining aligned with Citi’s commitment to personalized, relationship-driven service.
This partnership reflects a broader trend in the financial services industry, where institutions are increasingly collaborating to combine strengths and deliver more comprehensive solutions. For Citi, the move aligns with its strategic focus on enhancing its wealth management capabilities and streamlining operations. For BlackRock, it represents a significant expansion of its role in managing private client assets and deepens its engagement with one of the world’s most global banks.
The agreement is expected to take effect in the fourth quarter of 2025, pending customary approvals.
KEY QUOTES:
“We want to bring best-in-class advice, solutions and service to our clients, and we want to serve more of the world’s changemakers. With this offering, we can accomplish both. It brings together the sophisticated relationship-driven and market-based advice of our bankers, backed by the insights of our own Chief Investment Office, with the renowned investment expertise and innovative technology capabilities of BlackRock.”
Andy Sieg, Head of Wealth at Citi
“We’re excited to be selected by Citi to bring BlackRock’s extensive suite of investment solutions and innovative financial technology to clients, enabling Citi to deliver customized portfolios and strong investment outcomes across Wealth. As investor appetite grows for custom built, whole portfolio solutions, BlackRock continues to invest in our global investment platform to stay at the forefront of clients’ evolving needs.”
Robert Fairbairn, Vice Chairman at BlackRock
“For nearly four decades, BlackRock has helped lead the evolution of customized portfolio management, continuously adapting to meet the needs of individuals for tailored, tax-optimized investment strategies underpinned by cutting-edge asset allocation and portfolio construction capabilities,” she said. “Today, these investors and their advisors are reimagining the entire portfolio experience across public and private markets. By working alongside Citi and its clients, we are well-positioned to deliver the breadth, precision, and innovation their clients and investors worldwide require.”
Jaime Magyera, Head of BlackRock’s U.S. Wealth Business
