Citi wealth chief targets $5T in client assets held at other banks, expands in Spain

Citi's wealth management head Andy Sieg stated the bank's priority is to attract the $5 trillion its clients hold at other institutions, signaling an aggressive push to grow its wealth business. The bank is transforming its wealth management operations and plans new hires in Spain, indicating a strategic geographic expansion. This reflects Citi's broader effort to increase fee-based revenue and compete with larger wealth managers.