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Citigroup Inc. has partnered with BlackRock, Inc. to manage approximately $80 billion in assets through a new offering called Citigroup Portfolio Solutions, launching in the fourth quarter of 2025. This agreement will not materially affect Citigroup’s previously disclosed revenue or return targets.
BlackRock will manage various investment strategies, including Equities, Fixed Income, and Multi-Asset Class, using its Aladdin Wealth technology platform for enhanced risk management and oversight. Citigroup’s wealth clients, spread across nearly 100 countries, will retain their primary relationship with Citigroup Private Bankers for strategic asset allocation while BlackRock implements tailored investment strategies.
This partnership aims to leverage Citigroup’s advisory services along with BlackRock’s investment management and technology to enhance client experiences and outcomes, reflecting the growing trend of collaboration between banks and asset managers in wealth management.
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