Citibank 2005 Annual Report Download - page 20

For example, the CPB has developed
a specialized approach to serve clients
whose wealth is associated with real
estate holdings. These clients ben-
efi t from our expertise in real estate
fi nancing, cutting-edge asset allocation
techniques, and risk management
strategies geared specifi cally for real
estate-rich portfolios. A similar specialty
for attorneys and their unique needs
has existed at the CPB for more than
30 years.
While the CPB’s approach to client
service is differentiated among various
sources of wealth, high-net-worth cli-
ents across Global Wealth Management
may benefi t from a suite of innovative
and exclusive services and opportuni-
ties. These include the Tailored Group,
which provides highly customized and
optimized portfolio-management ser-
vices; Global Hedge Strategies, a joint
venture with Pacifi c Alternative Asset
Management Company that offers
customized portfolios of hedge funds;
and our robust global custody platform,
which leverages Citigroup’s worldwide
footprint and provides integrated
custody and reporting services in 30
countries and 20 different currencies.
INTELLECTUAL LEADERSHIP
In 2005, Global Wealth Management
also continued to build on its intel-
lectual capital base. By leveraging scale
and resources across Citigroup and
across our sector, we have been able
to invest more in the businesses and
improve our performance for clients
and shareholders.
One example of this is the continued
buildup of our global investment
research capability. Already one of the
most robust in the industry, this business
now has more than 300 analysts and
strategists covering some 2,800 stocks
globally that collectively represent about
90 percent of the market capitalization
of the major global indices.
The year also brought about a name
change—Smith Barney Global Equity
Research changed to Citigroup
Investment Research (CIR). The change
leverages the reputation and strong
global brand name of Citigroup and
refl ects the team’s growing portfolio
of business—similar to the addition of
Corporate Bond Research, which came
from its prior home at our Corporate
and Investment Banking business.
We established a sector-wide invest-
ments function in 2005, which
develops a consolidated outlook on
the economy, the markets, and asset
allocation and then works with our
professionals in the fi eld to translate
that view into effective client solutions.
This outlook is driven by thought lead-
ers within Citigroup and around Wall
Street, and is a fundamental element of
our client advocacy service model.
18 | Citigroup 2005
High-Net-Worth Individuals and Families...Individuals...Institutions...