The move underscores a growing trend among major banks to partner with specialized asset managers while refocusing their wealth operations on client advisory services and financial planning
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Citigroup will transfer $80 billion in assets from its wealth management unit to BlackRock Inc, the bank said on Thursday.
The move underscores a growing trend among major banks to partner with specialized asset managers while refocusing their wealth operations on client advisory services and financial planning.
The agreement is expected to begin in the fourth quarter of 2025.
(Reporting by Ateev Bhandari in Bengaluru; Editing by Tasim Zahid)
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