Mmastodon BusinessBanking first seen 20 h ago, last 50 min ago, peak #3
Citi doubles asset inflows, edging closer to profit goals
Original: 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.
Why now: Citi's wealth business showing sharp inflow growth signals progress in Andy Sieg's turnaround strategy and progress toward profit goals.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/2268778