Citi Wealth has selected BlackRock to manage approximately $80 billion in client assets, unveiling a new platform—Citi Portfolio Solutions powered by BlackRock—that will serve thousands of Citi Wealth clients currently overseen by Citi Investment Management (CIM).  

The collaboration will offer a full suite of investment strategies across equities, fixed income, multi-asset, and eventually private markets, while integrating BlackRock’s Aladdin Wealth technology into Citi’s advisor platform. 

Under the agreement, Citi private bankers will remain the primary client relationship managers, while BlackRock will design and implement tailored investment strategies. Several CIM team members will also transition to BlackRock, continuing to manage existing strategies for Citi clients. 

“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,” said Andy Sieg, head of wealth at Citi. “With this offering, we can accomplish both.”  BlackRock VC Sir Robert Fairbairn added, “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.” 

The agreement, expected to launch in Q4 2025 subject to approvals, will not materially affect Citi’s revenue or return targets. Citi Wealth—which includes the Private Bank, Wealth at Work, and Citigold businesses—manages more than $1 trillion in client balances, including $635 billion in client investment assets.