Story perspectives
Citigroup Transfers $80B to BlackRock, Outsourcing Investment Management
9/4/2025
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Story summary
- Citigroup will transfer $80 billion in client assets to BlackRock on September 4, 2025, outsourcing investment management.
- This decision aligns with banks' trend to collaborate with asset managers while prioritizing client advisory services.
- BlackRock will utilize its Aladdin Wealth platform for management, with some Citi employees transitioning to BlackRock.
- The initiative aims to boost profitability in wealth management, starting in Q4 2025.
