Citigroup to Launch $80B Portfolio Offering With BlackRock

Citigroup Inc. C has announced a new customized portfolio offering for its global wealth clients, appointing BlackRock, Inc. BLK to manage approximately $80 billion in assets. The offering, Citigroup Portfolio Solutions powered by BlackRock, is expected to be launched in the fourth quarter of 2025, subject to customary approvals and conditions. The agreement is not expected to affect Citigroup’s previously disclosed revenue or return targets materially.Details of Citigroup’s AgreementBlackRock will oversee a broad set of investment strategies, including Equities, Fixed Income, Multi-Asset Class, and, over time, Private Markets. The firm’s Aladdin Wealth technology platform, offering advanced risk management, portfolio oversight, and data insights, will be deployed to C’s private bankers and investment professionals.Citigroup’s Wealth clients, whose assets will be managed by BLK, are domiciled in nearly 100 countries, reflecting the offering’s broad global reach. The clients will continue to maintain a primary relationship with their Citigroup Private Banker, who will guide strategic asset allocation, long-term financial goals, and the selection of investment strategies. Subject to ongoing review and monitoring by Citigroup Wealth, BlackRock will manage and implement specific investment strategies tailored to meet clients’ objectives.Andy Sieg, head of Wealth at Citigroup, stated, “We want to bring best-in-class advice, solutions and service to our clients, and we want to serve more of the world’s changemakers. With this offering, we can accomplish both.” Sieg further added, “It brings together the sophisticated relationship-driven and market-based advice of our bankers, backed by the insights of our own Chief Investment Office, with the renowned investment expertise and innovative technology capabilities of BlackRock.”Further, certain members of Citigroup Investment Management will transition to BlackRock to continue serving as portfolio managers for existing strategies. Over time, Citigroup and BlackRock plan to develop new investment products and solutions that will further benefit clients, leveraging BlackRock’s scale, infrastructure, and capabilities.Rationale Behind C’s Partnership With BLKThe initiative brings together Citigroup’s strategic advisory strengths and BlackRock’s expertise in investment management and technology to deliver a more sophisticated client experience. It aims to provide clients with access to customized portfolio solutions spanning public and private markets, improve investment outcomes through advanced portfolio construction, and streamline operations while expanding the range of global investment options.Our Take on C-BLK AgreementThe deal reflects a broader trend in wealth management, where banks are increasingly collaborating with asset managers to enhance client offerings without building in-house capabilities. By combining Citigroup’s advisory services with BlackRock’s technology and investment prowess, both firms are positioned to scale globally while improving client outcomes.Price Performance & Zacks Rank of CitigroupOver the past six months, shares of Citigroup have risen 34% compared with the industry’s growth of 25.4%.Image Source: Zacks Investment ResearchAt present, the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Similar Steps by Other Finance FirmsIn June 2025, U.S. Bancorp USB has entered a partnership with Fiserv to integrate its Elan Financial Services credit card program into Fiserv’s Credit Choice solution. The collaboration aims to enhance digital card issuance capabilities, providing financial institutions with a seamless, integrated experience.The integration of Elan’s credit card program into Fiserv’s Credit Choice solution strengthens USB’s digital-first strategy. This integration will enable consumers and small businesses to access both debit and credit card account details within a unified digital platform. This will create a better user experience, allowing customers to manage both types of cards in one place.#1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citigroup Inc. (C): Free Stock Analysis Report BlackRock (BLK): Free Stock Analysis Report U.S. Bancorp (USB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks