search
Andy Sieg
Trends
- 1Citi doubles asset inflows, edging closer to profit goals▼Citi doubles asset inflows, edging closer to profit goals Its haul for net new assets rose by 105% year over year to $38
Citigroup's wealth division reported net new assets of $38 billion in the third quarter, a 105% increase year over year, putting the bank closer to its profitability targets. Wealth head Andy Sieg has described net new asset growth as the division's 'North Star' metric. The result suggests Sieg's turnaround strategy for Citi's wealth management business is gaining traction after a period of heavy investment.