Citigroup, Inc. · NYSE:C
Citigroup — BofA Securities Financial Services Conference 2025
19 slides from Citigroup's conference presentation, Feb 12, 2025
Slide 1: Citi's Wealth Business Update
Citi’s Wealth Business Update February 12, 2025 Andy Sieg Head of Wealth
Slide 2: Wealth is core to Citi's path to deliver sustainably higher returns
Wealth is core to Citi’s path to deliver sustainably higher returns Citi Wealth Today Citi Private Wealth at Citigold Markets Wealth Bank Work Customized Branch-based Investments, solutions for ultra investments and banking and lending high net worth1 banking in the US, for professionals in (UHNW) c
Slide 3: Delivering strong operating leverage and improved returns
Delivering strong operating leverage and improved returns Wealth full year 2024 results $7.5B $1,048B $587B $42B 628K 12.3K Revenues Client Balances1 Investment Assets2 Net New Investment Clients 4 Headcount Assets 3 Total revenues +20% YoY; Return on Tangible Common Investments revenue +28% YoY5 Ex
Slide 4: Driving results through greater front-line productivity and balance sheet efficiency
Driving results through greater front-line productivity and balance sheet efficiency Improving our front-line productivity Prioritizing the right mix of client balances Investment revenue per advisor1, $ millions Client investment assets2 as a % of total client balances3 +5 pp +36% 1.3 56% 51% 1.0 2
Slide 5: Well positioned to capture the global Wealth opportunity
Well positioned to capture the global Wealth opportunity Growth in global wealth is unprecedented…1 …and we are focused in the right areas Liquid assets2, $ trillions CAGR 229 5.9% Driving connectivity between NAM EMEA 6 Power of Wealth and other businesses; 7.1% APAC Other One Citi leveraging Citi’
Slide 6: Near-term focus on deepening with existing clients and improving revenue mix
Power of One Citi Technology Enhancements NNIA as our North Star Near-term focus on deepening with existing clients and improving revenue mix ~$5T opportunity to deepen with current clients Opportunity to improve revenue mix Off-us1 On-us2 1H’24 investment revenue as a percent of total revenues ~$6T
Slide 7: Leveraging Citi's full platform across geographies
Power of One Citi Technology Enhancements NNIA as our North Star Leveraging Citi’s full platform across geographies Citi serves ~560K Citigold clients and ~50K Wealth at Work clients. Businesses tied together by Citi’s Private Bank serves ~14K HNW1 and UHNW2 clients “Integrated Client Engagement” te
Slide 8: Modernized data structuring and technology capabilities enhancing client and advisor experiences
Power of One Citi Technology Enhancements NNIA as our North Star Modernized data structuring and technology capabilities enhancing client and advisor experiences Outcomes: Personalized client advice Advisor capacity to engage clients • Cloud-based data architecture • Intelligent advisor assistant (N
Slide 9: Advice-driven investments growth
Power of One Citi Technology Enhancements NNIA as our North Star Advice-driven investments growth Positive asset gathering momentum… … leading with advice as our core offering Net New Investment Assets (NNIA)1 in $B ✓ Client-centric, not product-centric investment advice $42B representing ~8% organi
Slide 10: Driving towards higher return targets
Driving towards higher return targets Return on Tangible Common Equity (RoTCE)1 >20% 15-20% • RWA productivity • Continued • Loan growth tied 10.1% to Investments expense discipline 7.6% • Infrastructure • Deposit pricing automation and discipline simplification 3.1% • Fee based investment revenue g
Slide 11: Forward-looking statements
Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. These statements are not g
Slide 12: Slide 12
Slide 13: Appendix
Appendix 13
Slide 14: Wealth returns reconciliation
Wealth returns reconciliation Average Allocated TCE (in billions of dollars)(1) 4Q23 1Q24 2Q24 3Q24 4Q24 FY FY2023 2023 FY 2024 Services $23.0 $24.9 $24.9 $24.9 $24.9 $23.0 $24.9 Markets 53.1 54.0 54.0 54.0 54.0 53.1 54.0 Banking 21.4 21.8 21.8 21.8 21.8 21.4 21.8 Wealth 13.4 13.2 13.2 13.2 13.2 13.
Slide 15: All Other Net Income Reconciliation
All Other Net Income Reconciliation 4Q24 3Q24 2Q24 1Q24 4Q23 2024 2023 All Other Net Income (Loss), Managed Basis $(1,070) $(483) $(402) $(477) $(2,300) $(2,432) $(2,141) Add: All Other Divestiture-related Impact on Revenue(1) 4 1 33 (12) (62) 26 1,346 All Other Divestiture-related Impact on Operati
Slide 16: Footnotes
Footnotes Slide 2 1) Citi defines Ultra High Net Worth (UHNW) as clients with investable assets of greater than $25MM Slide 3 1) Client Balances includes EOP Deposits, Loans, and Client Investment Assets 2) Year end 2024 is preliminary. Client Investment Assets includes Assets Under Management, trus
Slide 17: Footnotes (cont.)
Footnotes (cont.) Slide 5 1) Source: Bain & Company, In a New World: Time for Wealth Management Firms to Shift Course, 2022. Data is subject to further changes, including possible changes in methodology 2) Liquid assets include bonds (long and short-term government bonds issued by both central and l
Slide 18: Footnotes (cont.)
Footnotes (cont.) Slide 9 1) Beginning in the fourth quarter 2024, the metric previously reported as Net New Assets (NNA), which included both Net New Deposits and Net New Investment Assets, was replaced by Net New Investment Assets (NNIA) to align metric with the strategic priority of the Wealth bu
Slide 19: Footnotes (cont.)
Footnotes (cont.) Slide 15 1) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other - Legacy Franchises on a managed basis. For a reconciliation of these results, please refer to Slide 15. Divestiture-related impacts include the fol
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