The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Citigroup Private Bank: Sticking to a niche

Return to UBS tops private banking poll

Citigroup Private Bank

Citigroup Private Bank opened four new offices in the US in 2004, including a 118,000 square foot office on Fifth Avenue in New York. But, says president of the US region Damian Kozlowski (pictured), having a huge network of branches is not part of the bank's strategy. “In terms of structure, we look more like an investment bank. We have only 20 US offices with 130 US private bankers with almost 1,200 staff supporting them. This isn't a capacity game – we can't grow our banker population by more than 20% annually for example. We work best in a narrow client set in the US who are looking for tailored solutions.” That set includes entrepreneurs, real estate investors and developers, private-equity firms and their principals, and law firms – the majority of which tend to have at least $50 million in assets.

“The US is a wealth creation market, and we get involved on that side. Our clients generally have concentrated wealth, which causes liquidity challenges.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?