Citibank Cuts 80 Wealth Investment Consultants

Citi’s statement went on to say that while “this role elimination is quite limited in scale, we are taking every measure to ensure that clients are not impacted. Furthermore, we will assist affected employees in this transition by providing them the opportunity to apply for other jobs within Citi.”

Citibank’s noted that its “commitment to Citigold and to growing the Wealth Management business is stronger than ever, and we continue to make investments in serving the banking and investment needs of retail customers across the U.S.”

Most notably, Citibank said in the statement:

• We are increasing our wealth management sales force, including Citi Personal Wealth Management Financial Advisors, Citigold Relationship Managers and Citi Private Client Relationship Managers in our key markets;
• We are enhancing product capabilities with a focus on financial planning, retirement and insurance;
• We continue to strengthen our customer service and operating platforms.