Citi Private Bank > Analyst

Business Description

What is Private Banking?
Citi Private Bank, one of the world's leading private banks with over 120 offices in more than 30 countries, provides clients with comprehensive solutions and access to capital. Most often our clients are financial sponsors, real estate investors and entrepreneurs.
Our private bankers act as trusted advisors, designing and coordinating solutions for individual client needs, with an emphasis on personalized, confidential service. Our focus is on providing the financial and intellectual capital our clients need to grow and protect their businesses and personal assets.

What service do we provide to our clients?
Although Citi Private Bank's global clients possess a variety of backgrounds, lifestyles and aspirations, all share common goals: increasing the potential value of their assets, reducing risk and managing their portfolios effectively. Our bankers and product specialists help them achieve these goals.

Our investment, banking and wealth advisory services are built upon three core capabilities: financing services to address our clients' need for liquidity, capital markets solutions to help manage the risks of concentrated asset positions, and a wide spectrum of investment management strategies, including those aimed at counterbalancing the effects of highly correlated assets. We offer industry-leading insights, proprietary technologies and consultative services for areas of interest to our clients including family, art and philanthropic advisory.

Our highly personalized service is the hallmark of the relationships we have built with our clients and we are proud to have earned, through numerous awards and accolades, our reputation as one of the world's foremost private banking organizations.

How are we structured?
As part of Global Wealth Management, Citi Private Bank provides personalized services through a global network of nearly 500 private bankers and 300 product specialists. We leverage our extensive experience with clients' needs and our access to the Global Corporate and Investment Bank to provide clients with comprehensive investment management, investment finance and banking services.

Our 2008 Analysts will be placed in the following divisions:

· High Net Worth
· Law Firm Group
· Investment Solutions
· Capital Markets

High Net Worth
The High Net Worth Group is dedicated to helping our clients meet their financial needs and goals. We serve them not simply as a financial service provider but as a primary trusted advisor. Our experienced professionals offer clients (wealthy families and entrepreneurs) access to institutional capital markets and investment opportunities worldwide, including not only publicly traded securities, but also alternative investments such as hedge funds, private equity, derivatives-based products and real estate. Our innovative risk management strategies are competitive in mitigating the consequences of portfolio volatility and adverse market swings.

Our approach to managing wealth provides all the resources needed to satisfy our clients' expanding financial horizons. Each of our Private Bank offices draws upon the talents of financial specialists to provide solutions to clients' individual wealth management challenges. We also offer an extraordinary array of financial products and services.

Law Firm Group
For over 30 years, Citi Private Bank Law Firm Group has served as the premier advisor to the legal profession, committed to serving the financial management needs of the world's top law firms, their partners and associates. Our long history of serving the legal profession makes us the most experienced financial institution in the field. We have nearly 30 private bankers and other specialists in 12 offices in the U.S. and the U.K. dedicated solely to serving over 650 law firms and 35,000 attorneys.

The Law Firm Group banker teams provide law firms with options for achieving their key business goals, whether that means tapping new financing, improving the management of the investment and retirement plan, or strengthening their firm's financial foundation. We also provide partners and associates with personal banking services including capital contribution financing, first home financing options and second home mortgages to money market accounts and brokerage services.

Investment Solutions
Our Investment Solutions specialists provide asset allocation, portfolio analysis, manager selection and comprehensive financial planning solutions to Citi Private Bank clients.

We provide a range of solutions and strategies to clients that include asset allocation, separately managed accounts, alternative investment strategies and financial plans.

The right asset allocation strategy serves as a key pillar of our clients' entire financial pictures. Our proprietary Whole Net Worth asset allocation model provides optimized allocation recommendations incorporating virtually all asset classes available to High Net Worth clients, including illiquid assets such as private equity, real estate and privately held businesses. By working within this framework, we define our clients' personal investment objectives and explore risk/return tradeoffs to arrive at an asset allocation and investment strategy suited to their whole financial picture.

Separately managed accounts help our clients build wealth over the long term by providing a wide variety of investment disciplines, experienced portfolio managers and high-quality service. The individualized nature of these accounts allows for a high degree of customization and the ability to manage assets on a tax-sensitive basis. Our open architecture platform provides our clients with access to over 400 investment options across all asset classes.

Citi Alternative Investments (CAI) is a leader in the field of alternative investments, offering clients a full suite of alternative investments including hedge funds, structured products, real estate and private equity. It meets the needs of investors seeking the real diversification benefits and potentially higher portfolio returns of alternative investments.

Capital Markets
Capital Markets group offers clients risk management solutions, strategic investment opportunities and tactical trading ideas across various asset classes. We work closely with private bankers as well as the legal and tax departments to provide clients with the highest expertise in hedging solutions, tactical trading ideas and strategic investment opportunities. We also offer clients a wide range of products including foreign exchange, OTC derivatives, structured notes and warrants.

Our Programs

Full Time Analyst

Citi Private Bank's three-year Analyst Program develops the skills required to become a member of a product or banker team within the Private Bank. Analysts join one of the following areas: Investment Solutions, Capital Markets or a Banker team. There may be an opportunity to gain experience in more than one area depending on business need, although we do not have a formal rotation schedule.

Analysts perform a wide range of tasks that vary depending upon the team to which they are assigned. Responsibilities may include developing financial models, evaluating investment ideas for clients, preparing presentations for client visits and prospecting new client business.
The three-year Analyst Program begins with six weeks of training focused on capital markets, investment management, tax and financial statement analysis, structured lending, trust and estate. Throughout their training, Analysts meet with members of the leadership team as well as other key members of the Citi Private Bank organization.

Select third-year Analysts are invited to join the Citi Private Bank's Associate Program.

The three-year Analyst Program begins in July with six weeks of intensive training, designed to immerse Analysts into the Citi Private Bank, our structure and our strategy. It is also designed to broaden their knowledge of the business and educate them on the fundamentals of the products and services we offer, as well as provide them with the communication, presentation and systems skills they will need to succeed at Citi Private Bank.

Training topics covered include investment management, capital markets, accounting, financial statement and tax analysis, credit, trust and estate and presentation skills. Analysts work on case studies and group projects and participate in discussions and presentations with senior management, gaining insights into the dynamic and competitive private banking industry.

Continuing education is delivered on a regular basis throughout the three-year program and Analysts are expected to obtain their Series 7 and Series 66 licenses within their first year.

Summer Analyst

The Summer Analyst Program is a ten-week program designed for students who are rising seniors in undergraduate school. The Program offers a combination of formal training and hands-on work experience enabling Summer Analysts to develop the skills necessary to become a successful member of a product or banker team. The goal of the Program is to source top talent for our Full Time Analyst Program.

Upon arrival, Summer Analysts attend a four-day orientation during which time they interact with members of the leadership team and senior management to learn about various business groups within the Citi Private Bank. As the summer progresses, Summer Analysts are continuously exposed to the firm through weekly Business Insights and networking events.

Following the orientation, Summer Analysts join either a product or banker team. Managers assign projects that may include developing financial models, evaluating investment ideas for clients and preparing presentations for client visits.

The Summer Analysts' performance is continually assessed on an informal basis throughout the summer and is formally reviewed during the midsummer and end-of-summer evaluation processes. At the conclusion of the Program, Summer Analysts prepare and deliver a presentation to members of senior management.

The Summer Analyst ten-week Program begins at the end of May with a four-day Orientation. The Orientation introduces Summer Analysts to key business areas within the Private Bank as well as providing soft skills training in creating presentations and transitioning into the workplace.

In addition to on-the-job training, Summer Analysts attend weekly Business Insight meetings. The Business Insights are a forum for discussions of business strategy and structure, investment management, capital markets, investment finance, etc. Summer Analysts have exposure to strategic projects and senior management, gaining insights into the dynamic and competitive private banking industry.

Summer Diaries

Name: Viral Saraf
Group: High Net Worth
School: The Wharton School, University of Pennsylvania 


Weeks 1 & 2

I was very nervous about starting work at the Citi Private Bank (CPB) as I was not sure of what kind of work I would have to do and if I could do it properly. However, the orientation week transformed my fear into confidence. It made me more familiar with the Firm and what the different business areas do. It taught me about Bloomberg, presentation skills, business etiquette, and it included informative sessions from the Senior Managers of each business area. I particularly enjoyed the session on business etiquette as I did not know much about that, and so, I found that to be particularly useful. We also had some social events such as a welcome reception with our Buddies, lunch with our Managers and a roundtable discussion with current Analysts. In addition to this, all the Summer Analysts had lunch together every day that week, which also helped us to get to know each other better.

My second week involved getting more familiar with the products that we offer, our proposals, my team’s client base, and the applications that I would need to use. I would come home very tired during the first two weeks, as I was not used to getting up early and working for about ten hours. However, living in NYC was great as there was always something to do and somewhere to go at any time during the day. Moreover, my dinners used to always be very lavish as there was delicious food everywhere.

Weeks 3 & 4

Each day would begin by attending the daily Global Investment Call, which I enjoyed a lot, as it gave us an investment outlook of the global markets. After the first two weeks, I had a better understanding of what my projects would be. I started off by mainly doing research and prospecting on clients, who my Managers were either going to meet or were trying to get in touch with. I also had some secondary projects that required me to use a lot of Project One, a proprietary client-tracking database. I started getting very comfortable with these tasks and my team was awesome. We were a cohesive unit as we all sat together, and were always ready to help each other, and give suggestions.

My Managers served as great mentors to me, and encouraged me to ask them a lot of questions about the bank and the market. Thus, learned a lot from them. In addition to this, my Buddy was a good mentor and took me to lunch, and gave me her suggestions about what I should do to be a successful Summer Analyst. Apart from these, there were a lot of other events going on. The Distinguished Speaker Series featuring Senior Management across Citi including CEO Chuck Prince. Citi Private Bank specific events included the Monday Sales Meetings that were very insightful as it told us about the developments at the Firm, the Sales Meetings on Wednesdays and daily Investment Calls. In addition to this, Summer Analysts were all encouraged to meet with Senior Managers ourselves to form a strong network. As a result, we all paired up in groups of five or six, and started scheduling group meeting with Managers. I met Managers from Capital Markets, and the Analytical Lab during these weeks.

Weeks 5 & 6

I started working on my main projects during these weeks. I was prospecting on private foundations and preparing marketing materials that were sent to each foundation. I was also given the responsibility of preparing performance reviews. The second quarter had just ended and I got very busy working on these reviews since my Managers had a lot of upcoming investment management reviews with their clients. These reviews mainly helped me understand the client’s portfolio and its performance against some benchmarks. I had my midsummer review during the fifth week, and I thought that it was very helpful as my Managers told me about my strengths and a few things that I could improve on.

I continued to get very strong exposure to other divisions as I met Managers from Strategy and Business Finance. My Managers were also taking me to internal meetings with their colleagues from Structured Products, Art Advisory and Consumer Banking. During these weeks, we also had our mid-summer presentation, which got me started working on my final presentation. We had to present before a few Analysts, our Summer Program Manager and members of Professional Development, and they gave us feedback on our presentation style and content.

Weeks 7 & 8

During these weeks, I was very busy working on performance reviews that required me to contact people from some other divisions to correct a few errors on the reports. It made me realize that as an Analyst, it was my job to analyze the return numbers on the reports. We also continued to attend the Distinguished Speaker Series and I feel very fortunate to have had the opportunity to listen to some of the most successful people in the industry, and from what my friends at other firms have told me, no other banks have such events for their summer interns. I also started making changes to my mid-summer presentation as our final presentation was fast approaching.

Weeks 9 & 10

We had our final presentation in the ninth week of our internship, and so that week mostly consisted of working on my presentation. My Managers were very helpful as I practiced my presentation before them and they gave me some very insightful feedback on my content as they knew about my projects very well. Then came the big day, when I had to present in front of Senior Management, the Summer Program Manager and members of Professional Development. I felt that it went well as I was very prepared and knew my tasks in and out. The final presentation was like taking a final exam, after which everything was relaxed. During these weeks, I continued working on performance reviews and prepared review reports for my Managers until their end-of-August meetings. Some of us also met Managers from Wealth Advisory Services and Philanthropy that taught me about a different side of Citi, as it was not very financial, but was more qualitative.

I had a very fulfilling summer at the Private Bank as I feel I have learned a lot not only about the bank but also about the markets and investments. I feel that I made a real contribution to my team and the Private Bank by preparing reviews and mainly by doing prospecting, as these prospects serve as potential clients, and I hope that they turn out to be good clients for my team. During the last week, we had events such as a feedback session with our Summer Program Manager, final evaluations, and an Analyst panel about opportunities in regional offices. In addition to these informative events, we also had social events such as going to a comedy club and intern dinners.

The most memorable part of my internship was the people who I have met, not only from the Private Bank, but also all the other Summer Analysts, and the most important thing was the bond that we have all formed. I did not feel like leaving the Private Bank, as I had a great summer there and I learned a lot. As a word of advice, I would like to say that you must do what you like. Being from the Wharton Business School, everyone thought I would follow the usual Wharton path of Investment Banking (which is now changing, and becoming more diverse); however, I did what I liked, and had a fantastic experience.


Name: Justin Matarazzo
Group: Law Firm Group 
School: Penn State University

Weeks 1 & 2

I had been anxious to get to New York and the Citi Private Bank (CPB) for months. The anticipation made me very excited to begin the internship program. As members of the Private Bank and other interns greeted me, I knew that all of the waiting was well worth it.

The Private Bank had a tremendous week of education and networking set up for us. It made for an easy transition into working in New York and for Citi. Instead of simply arriving and being thrown on a desk, we had the chance to learn about the business areas within the Private Bank and we got to meet high-ranking members of the organization. Though we learned a ton of things in the first week, it was not all work and no play. We were able to relax and meet our Analyst Buddies at a welcome reception during the first week. The Buddies were great, as they are available to help with whatever questions or concerns we had. The orientation made us all feel like the Citi Private Bank was the best place to be for the summer.

Throughout the first few weeks, I continued to feel more and more comfortable and excited about being in New York. Taking the subway to work with a coffee and The Wall Street Journal in hand is a neat experience. You really have the opportunity to see the city come alive in the morning, and be a part of it all. There is simply no place like New York. I had only been in the city twice, one day each time, before arriving here for the summer. The feeling of getting out of the taxi in front of the NYU dorm I would be staying in was exciting, and I knew that there were many fun times and experiences in front of me. The Private Bank helped us to discover many great places around the city, and the discounts you receive from working here help out as well.

Weeks 3 & 4

During the third week we were finally settled into our groups and began the first steps in our projects. Each Analyst was assigned a project to work on over the summer, and to present their research and findings at the end of the program. My task was to research a new segment of the legal industry, and develop a strategy to penetrate the market and grow our business. Having a project that will be used directly by Management to make a decision means that I had a great deal of responsibility and my work cut out for me.

Also during this time, I continued getting to know the members of the Law Firm Group Strategy Team, where I will be working this summer. They are extremely welcoming and helpful. My Manager set up a meeting for me to get to know the other professionals in the group and what they do on a daily basis. I also have a Supervisor who I will work with on a daily basis. Both my Manager and Supervisor were unbelievably helpful in teaching me new things and introducing me to new people.

Though I had an amazing time getting to know people in my group and enjoyed getting started on my project, the highlight of the fourth week was the Community Service Day and spending time with the children at the Henry Street Settlements day care program. All of the Summer Analysts helped the amazing teachers there by reading stories to the kids, eating lunch with them, and spending time with them at the playground. It was nice to see another side of both Citi and the Analysts in the program.

Weeks 5 & 6

By midsummer, my Supervisor entrusted me with additional tasks, some of which were submitted to Management. I learned a great deal in a short time, as the assignments I was given have expanded my skills and knowledge. I also learned a lot about the Law Firm Group and that it caters not only to the law firms, but also to their Partners and Associates and is a niche market segment in which Citi Private Bank is a leader. (I should note that I had no experience in the legal field when assigned to this role and that it is not necessary to have any experience in the industry in order to be placed in the Law Firm Group full time.)

Getting feedback about my performance midway through the program was very helpful. My Manager, the Summer Program Manager, and I discussed the things I was doing well this summer, and also the areas where I could improve. This helped to give me an understanding of how I can be more effective and efficient with my work.

Another great opportunity we had during this time was to shadow a current full-time Analyst. This gave us a chance to learn about different business areas within Citi Private Bank and get a different perspective on the organization. I was able to shadow an Analyst who works on a High Net Worth banker team focused on clients in the sports industry. Needless to say, the time spent there was very interesting and because a new development with a client took place while I was there, I was able to help out and work for the team for a few hours.

Weeks 7 & 8

Also during the summer, it was very interesting to hear from the leaders of Citi through the Distinguished Speaker series. We were able to hear from the most influential people in the company, including CEO Chuck Prince. They all had very encouraging words and insights into the culture and future of Citi. The Private Bank’s series of Business Insight lunches were also very helpful and gave a chance to learn more about other business areas available to us. For example, one week we learned about the Structured Lending business and the process they take to lending capital to sports teams and organizations.

As another chance to get to know each other better, the Summer Analysts headed to the Mets game one night after work. Once we got to the game, we relaxed, enjoyed hot dogs, and watched some baseball. Having the opportunity to hang out with the other interns and learn more about their backgrounds and interests was fantastic. We also had the chance to meet the incoming full-time Analyst class who were in their initial six-week training program. It was great to hear their experiences, and it was also nice to see how excited they were to be working full time with the Citi Private Bank.

Even though we were having a ton of fun, it was also getting to be crunch time, as we were preparing to present our projects in the next week. I tried to get as much input from as many of my colleagues on how to make my presentation the best it could be. While making the finishing touches, I started to take pride in the work I completed over the past eight weeks, and wanted to make sure that I conveyed the work I did and the results of my research.

Weeks 9 & 10

I knew that I would have a great experience, but I never thought I would learn and grow as much as I have this summer. The internship program and the people at the Private Bank were truly incredible, and I cannot imagine being anywhere else for the summer. The thing I will remember the most is the amount of help and care everyone was willing to give, no matter their title or time. Everyone was accessible and eager to help in whatever way possible. It was amazing to feel a genuine concern for how my summer was going, and what could be done to make it better.

The other highlight was how much responsibility and trust was given to me. My Manager gave me meaningful assignments that were used directly by our team and others in the organization. There was not a single point in the summer when I was treated as an “intern” in a negative way, as you hear of interns in other organizations being coffee runners and copiers. By the end of the summer, I felt like I was an integral part of the team, and that I was adding real value to the Citi Private Bank.

My final presentation was an opportunity to show my research and conclusions from the project I worked on throughout the summer to Management. They asked me great questions at the end that my research had prepared me to answer. It was a phenomenal experience to have the opportunity to talk about what I had done throughout the summer with Management, and to give them recommendations on how to grow the business further. The thought that they would be considering my findings and using my research to make future business decisions gave me a sense of accomplishment and satisfaction.

As I left New York, I was very happy that I chose the Citi Private Bank as the place to learn and work this summer. The opportunities that were available to me as a Summer Analyst were extensive and gave me the chance to grow both personally and professionally. Making a decision on where to intern is certainly difficult. After I talked to many great people in the Citi Private Bank and learned more about their program, it became apparent that it was the right fit for me. After completing the program, I can confidently say that I have no second thoughts on my choice, and can sincerely say that the experience I had this summer was better than I ever expected.


Name: Lindsay Roberts
Group: Investment Solutions 
School: University of Pennsylvania

Weeks 1 & 2

My first impressions of the Citi Private Bank (CPB) were great. Not having ever been part of a formal finance summer internship, I was not quite sure what to expect for orientation. All of the 22 New York-based interns had the opportunity to get to know each other every morning during breakfast and again during lunch. We spent each of the four training days listening to a series of speakers that included the heads of U.S. High Net Worth, Structured Lending, the Law Firm Group and Capital Markets. We also received training in PowerPoint, Excel, Bloomberg and presentation skills. Finally to finish off our orientation, we had an opportunity to meet our Managers over lunch and then the week ended with a Q&A session with full time Analysts at CPB. We were able to ask all kinds of questions about their experiences and what to expect as a Summer Analyst. We also enjoyed an after-work welcome reception where we met our Buddies and some of the other full-time Analysts. Overall, I started the first day of work very aware of what my desk did, what the overall structure was of the Private Bank was and what kinds of responsibilities I would have during my ten-week internship.

I was placed in the U.S. Investment Solutions Analytical Lab, which is a group specific to Citi, whose responsibilities mainly include asset allocation modeling for High Net Worth clients and ultimately deciding upon managers in Hedge Funds, Private Equity, etc. to take on the clients’ investments. In order to fully understand what my group actually did, two other Summer Analysts and I were able to spend each day shadowing a different person in the Lab, learning the tools that are used for asset allocation, in order to get a better grasp of how the Lab operates. Even after one week, I had already learned so much about Private Banking and every person on the desk was extremely open and willing to let me sit with them and ask questions.

Weeks 3 & 4

As I had begun to settle into the CPB, I learned that my main project would be to analyze the drivers of return and portfolio construction of Private Equity. This project gave me the opportunity to do extensive research on Private Equity, which has begun and continues to be a crucial element in Alternative Investments. As additional daily projects, I volunteered to create and send out the market summaries for the Daily Global Investment Call that involves using Bloomberg to get stories and market data that ultimately gets sent to every person in the Private Bank. My Bloomberg training during the orientation week came in handy! My desk was also very open to me learning about other aspects of CPB and I attended many of the Sales Meetings and Product Briefings that occur on a daily basis.

What was great about the Private Bank that may not exist at other firms is the willingness and accessibility of Senior Management. The head of the Analytical Lab is extremely busy yet always made time to meet with me to discuss my project and answer questions. If he was ever not around, every other person in the Lab was exceptionally great in always making time to talk to me. My buddy always checked in to make sure I was happy with my projects and would let me sit with him or help out whenever I needed him. At the end of the fourth week, we had a Community Service Day where we played with children and helped out in the classrooms at the Henry Street Settlement. We all had an amazing time!

Weeks 5 & 6

As the summer progressed, I continued to work on my Private Equity project. However, I had really wanted to do one of the asset allocation models for a High Net Worth client. When I asked, everyone was very willing to let me work on a case. It was great to work on the same kind of projects that all the full-time Analysts do on a daily basis. In order to understand some of the other aspects of the Citi Private Bank, a few of the other Summer Analysts and I took part in Internal Networking, where we were encouraged to meet with members of Senior Management in a very small group and were able to ask questions and learn about their careers. Also, in order to give the Summer Analysts the opportunity to learn about the other groups within the Private Bank, we had a shadow day where I got to sit with a full-time Analyst in the High Net Worth group and learn more about the roles and responsibilities of the Analysts and Bankers.
In week 6, we had both our midsummer presentation and midsummer review. For the midsummer presentation, I presented my Private Equity project to members of Professional Development, the Knowledge Center, full time Analysts and the Summer Program Manager. Not only was this a chance to showcase my work, I was able to receive feedback on how to improve my presentation skills. For my midsummer review, my Manager told me that because I had done well with my project thus far, he now wanted to take my analysis into my own hands and take advantage of outside resources. I started to work with Citi Alternative Investments and Harvard Business School professors to get more in-depth research on risk and return in Private Equity. Working with, and being taken seriously by, people across Citi divisions and outside of Citi was amazing.

Weeks 7 & 8

In weeks 7 and 8, I continued to work on my project. I was also able to continue working on the asset allocations models as well as put together a presentation that my Manager was going to present to John Longley, CEO of the Private Bank. Besides presenting my project to Senior Management, I was given the opportunity to present my research on Private Equity at the Friday Research Meeting, which included everyone from the Analytical Lab, Trust and Estate Planning and other people working in Investments.

Besides continuing with the internal networking, we also had the Distinguished Speaker Series, most often at the 388 Greenwich Street office, where we had an opportunity to hear the most senior members of Citi speak to all the Summer Interns (i.e. Analysts and Associates) within all Citi divisions. We heard from the Chairman of Citi, the CEO of Global Markets and Banking and the Head of Global Transaction Services. We also heard from Chuck Prince, the CEO of Citi! Not only was it great to hear all the speakers, but also it was an opportunity to meet other Citi Summer Interns. At the end of week 7, Citi brought us to Mets vs. Reds Baseball game at Shea Stadium, which was a lot of fun and we got to meet the full-time analysts, who were currently in their initial training program.

Weeks 9 & 10

In the last weeks of the summer program, I was able to present my research to my Managers as well as to members of Senior Management and Professional Development. It was very exciting!

Overall, I had an incredible summer working at the Private Bank. From my summer experiences, I had the opportunity to work on a project that allowed me to learn so much. I was given responsibilities to work on asset allocation cases that gave me a true taste of what the full time Analysts do. Finally, I got a sense of the entire business through the Internal Networking roundtables, the Distinguished Speaker Series and the Analyst Shadow Day. The most memorable parts of my summer were my midsummer and final presentations. Being able to showcase all that I had worked on and hear feedback and answer questions made me realize how all my efforts were really taken seriously and appreciated. Having spoken to my friends working in all different sectors of the corporate world, I realize that my summer experiences and the responsibilities that I was given were much greater and far beyond all that most everyone else had experienced.

My advice for a student looking into summer opportunities would be to choose an area where they would have the highest learning curve as opposed to that which they may feel the most comfortable. A summer internship is an opportunity to expand one’s skill set and knowledge and there is nothing more rewarding at the end of a summer than to have accomplished a project or a task that one could not have fathomed being able to do at the beginning of the summer. For me, working on an analytical desk helped me expand my financial knowledge and learn both quantitative and qualitative skills that I will continue to use for the rest of my career.

Who we are looking for

We hire talented individuals with undergraduate degrees from a wide variety of universities for our program. Successful professionals in the Citi Private Bank share many common traits, including:

• Minimum GPA 3.0
• Superior relationship building skills
• Excellent verbal and written communication skills
• High levels of self-motivation, initiative and attention to detail
• Strong analytical skills and innovative problem solving skills
• Ability to work well under pressure on multiple projects
• Confident and comfortable interacting with all levels of internal and external clients
• Collaborative and cooperative work style
• Commitment to professionalism, integrity and ethical standards
• Demonstrated interest in financial markets and financial services industry
• Proficiency in MS Office Suite (i.e. Excel, PowerPoint, Word, etc.)

Summer Analyst

We hire talented individuals who are rising seniors from a wide variety of universities for our program. Successful professionals in the Citi Private Bank share many common traits, including:

• Minimum GPA 3.0
• Superior relationship building skills
• Excellent verbal and written communication skills
• High levels of self-motivation, initiative and attention to detail
• Strong analytical skills and innovative problem solving skills
• Ability to work well under pressure on multiple projects
• Confident and comfortable interacting with all levels of internal and external clients
• Collaborative and cooperative work style
• Commitment to professionalism, integrity and ethical standards
• Demonstrated interest in financial markets and financial services industry
• Proficiency in MS Office Suite (i.e. Excel, PowerPoint, Word, etc.)

Recruitment Process

Full Time Analyst
Citi Private Bank begins the formal Full Time Analyst recruiting process in early September and interviews begin in October. The recruitment process involves two interviews with senior managers from the Business. Each interview will assess your skills and your potential within the dynamic Private Banking industry. Successful applicants are invited to our New York offices to learn more about the Firm and the opportunities available.

Stage 1: Application is reviewed by Campus Recruitment and the Business

Stage 2: Students are selected to interview

Stage 3: Campus Recruitment hosts two rounds of interviews 
              2:1 competency based interviews with a combination of Managing Directors, Directors and Vice Presidents
Stage 4: Offers are extended by Campus Recruitment

Stage 5: Students are invited to a “Day at the Firm” event in November 

Summer Analyst

Citi Private Bank begins the formal Summer Analyst recruiting process in late November and interviews begin in January. Interview are designed to assess your skills and potential within the dynamic Private Banking industry. Successful applicants are invited to our New York offices to learn more about the Firm and the opportunities available.

Stage 1: Application is reviewed by Campus Recruitment and the Business

Stage 2: Students are selected to interview

Stage 3: Campus Recruitment hosts two rounds of interviews 
              2:1 competency based interviews with a combination of Managing Directors, Directors and Vice Presidents

Stage 4: Offers are extended by Campus Recruitment

Stage 5: Students are invited to a “Day at the Firm” event in February

Where

Full Time Analyst
Analysts attend initial training in New York and are placed in regional offices across the U.S. based on business need and individual preferences.

Summer Analyst
Summer Analysts are currently placed in New York for the duration of the ten-week Program.

Our People

Eric Bell BA Hendrix College Analyst

What advice would you offer prospective candidates on transitioning from school to the workplace?

The best advice I can suggest is to prepare. You should read as much as possible about your future employer, its competitors and its industry. That includes visiting websites and reading trade publications. I would also recommend contacting any employees you know at the company and soliciting their advice. If you do not know anyone, seek out a mentor in the industry.

What about your career excites you the most - gets you out of bed in the morning?

Our clients. At the Private Bank, I have the opportunity to interact with some of the most sophisticated, influential and successful people in the world. Our clients are the leaders of industry, finance, politics, and culture, and I have a unique chance to learn directly from them each day.

How would you describe your team and the people you work with?

Our people are some of the most intelligent, creative and talented people in the world. This diverse group thrives on the excitement of the industry and the challenges facing it. Although we come from different backgrounds and cultures, we all value honesty, integrity and hard work.

How do you apply your degree to what you're doing now?

As a liberal arts student with majors in Economics and English, I developed skills in the use of language, the analysis of information, and the communication of knowledge. Many people underestimate the value of effective communication, but it is crucial to your success in business. No matter how brilliant or invaluable your ideas, they are worthless unless you can communicate them to others.

What skills have you found to be the most useful in your position?

Citi reaches a global and diverse client base offering a wide array of services. Therefore, I am expected to understand the markets, analyze and determine future trends, interpret news, think outside the box and, most importantly, communicate effectively with clients and colleagues. When you are constantly interacting with professionals you also need to be confident, responsible, energetic and respectful.

Describe your experience in your specific training program.

The Citi Private Bank truly does a great job supporting the Analyst Class, helping us to understand the business, capitalize on our strengths and develop other areas. No matter what our backgrounds are, finance or liberal arts, quantitative or not, we have been given all the resources and guidance to make the best of our skills and find our niche within the company.

What do you enjoy doing outside work?

I spend most of my free time with family and friends. I love traveling, fishing, golfing, skiing and watching sports. Citi encourages its professionals to get involved with the community and offers many opportunities to do so. Currently, I am a mentor with the Big Brothers Big Sisters Workplace program, and I am working with my alma mater, Hendrix College, to develop a New York Chapter for its Alumni Association.

Joseph M. Cothron BA from North Carolina State University and MBA from University of Texas at Austin Director

What about your career excites you the most - gets you out of bed in the morning?

Every day is something different. When you work with High Net Worth (HNW) individuals you realize the only thing the clients have in common is the fact that they are multi-millionaires. Some are highly financially sophisticated and some are not. Some are entrepreneurs and earned their fortunes via their inventions or enterprises and some inherited their wealth. In dealing with the different types of clients and personalities you can learn a lot from them. At the same time you can share your expertise and add value for them as well.

How would you describe your team and the people you work with?

Working on a trading floor means that you are literally elbow-to-elbow with your colleagues. This environment allows you to get to know your colleagues fairly well. I work with a great group of men and women who know how to work hard and have fun doing it. The trading floor can be stressful at times so everyone has to find ways to let off some steam and it can create some funny situations. Every member of my team is focused on adding value to his or her clients and providing exceptional service.

What other groups do you liaise with regularly within the Firm?

The institutional trading desks as well as the Investment Bank. The fact that I work with HNW individuals affords me the ability to trade in dollar sizes that can match that of the institutional desk at times and still maintain the individual client relationship. At the Private Bank we use the institutional traders to execute for our clients. By using this group, we can ensure that our clients receive a higher level of execution than normal retail. Sometimes our clients also need to utilize the financial markets through the Investment Bank and I act as the conduit for our clients into that world.

What outside influences have the most bearing on what you do day to day, and how do they affect you? (e.g., economic news, world markets, company data, etc.)?

I am dealing with interest rate derivatives, so any news regarding most countries effect by underlying asset class. If a catastrophic event occurs in London, not only does it affect UK interest rates but also has a ripple effect on other countries as well, especially U.S.

What skills have you found to be the most useful in your position?

Attention to detail, multitasking and the ability to focus when surrounded by chaos. The market is extremely volatile at times and always moving and my clients demand and expect good execution regardless of the situation. It is very important to stay calm and focus on the details of the trade and block out other distracting things going on around you.

What advice would you offer prospective candidates on transitioning from school to the workplace?

When I first started at my position I felt that school prepared me with the necessary theoretical knowledge to do my job. I soon realized that the real world is quite different. Early in your career you want to take advantage of all the knowledge and expertise that your colleagues have to offer. Also, try to find a mentor that will take an interest in your career. Your mentor should be someone who is fairly successful and is viewed positively among his or her peers and superiors. It is always easier to learn from other people’s mistakes then creating your own.

If you could have dinner with anyone (past or present) who would it be and why?

Muhammad Ali. He was an amazing athlete but more importantly he is an amazing person. The fact that he gave up his heavyweight title, money, fame and personal freedom because he did not want to fight in a war he did not believe in is a sacrifice that very few people would make. I would like to hear him tell his stories about his epic battles inside the ring and his even more heroic battles outside the ring.

Peter Gaudry B.Ec, University of New South Wales Vice President

What advice would you offer prospective candidates on transitioning from school to the workplace?

Everyday, you will choose to either have a job or a career. All of the inspiring and successful people I’ve interacted with have viewed their occupations as careers. Another way of looking at it is the difference between being an executor or an entrepreneur. You shouldn’t just complete the tasks you’re given, you should question them. 

Another piece of advice is to make your manager look good. Many people join a company thinking the way forward is through self-promotion. The key is to make your manager look good, remembering to do a little diplomatic self-promotion when appropriate. You should also strive to know as many people as possible from Administrative Assistants through to the CEO.

Describe the most memorable experience you've ever had at Citi.

A few years ago I told my manager that I felt he could extract more value from me and that I wanted a new challenge. He thought about it and then sent me to Tokyo for two weeks to train bankers on a new platform. Despite having studied Japanese I wasn’t sure I could train people in their native language. I brushed up as fast as I could, spent two weeks in Tokyo and led training that was very well received!

What do you consider Citi's competitive edge?

Our competitive edge is that we can do anything. Our clients are impressed when our answer is always ‘yes’. Does the client want to purchase a customized private aircraft? Yes, we can do that in-house. Would they like to take their company public? If yes, we’ll introduce our investment bank partners. Are they concerned about the best way to transition their wealth? If yes, our Trust and Estate team are here to guide them. It’s empowering that no matter the topic of conversation, we can step up to the table and get things done globally.

How do you apply your degree to what you're doing now?

I majored in Economics and Japanese. Citi provided the opportunity for me to work and live in Japan on more than one memorable occasion. In my current role I am able to draw on those experiences and the Japanese colleagues I worked with. Clients have been very pleased that I could organize a lending facility for a Tokyo property with relative ease. At the end of the day, it really is about your network.

What skills have you found to be the most useful in your position?

They might not sound like the typical skills, but I’ve found being humble and open to learning is crucial. The more you learn, the better you’ll be in front of clients or management, and remember, there is no finish line. Have a global perspective, travel to interesting places, and be familiar with the global economy - as the world gets smaller, this will become even more important. Networking is also a core skill that everyone should have, and is easy to develop. Just remember to network at all levels.

How has Citi supported your career development?

There’s a humorous saying at Citi that we give you a long rope and it’s up to you to either run with it or hang yourself. If you really run with it, you’ll receive an immense amount of support, from top-tier professional development programs to management that encourages entrepreneurship and new ideas. If you make a commitment to being the best, you will receive support from all levels and the sky is the limit.

If you could have dinner with anyone (past or present) who would it be and why?

Bono and Steve Jobs. Bono’s self-transformation from musician to philanthropist/quasi politician is inspiring, not to mention the difference he’s making. Similarly, Steve Jobs was ousted from his own company but then came back to reinvent it and reinvent the way we think about everyday experiences, such as listening to music, using a computer or cell phone. They are both rebels who have transformed slightly worn topics (technology, third world poverty) into very cool parties that everyone wants to attend.

Jill Kiehnle B.A., University of Pennsylvania Analyst

What do you consider Citi's competitive edge?

From my point of view, Citi’s competitive edge is its employees. The people here are incredibly motivated and teamwork is not only imperative but valued. Private Banking is about relationships and this extends not only to clients but colleagues as well. I think this trickles down from the top, in that senior management is accessible to the people who work for them, leading by example and increasing office morale. All this creates a happier work environment where people have a desire to work harder and ultimately achieve more.

How would you describe your team and the people you work with?

The best way to describe my colleagues is that they have a work hard, play hard mentality with an emphasis on working hard in and out of the office. I have worked for several banker teams and found that, in general, they are composed of incredibly devoted, bright people who also know how and when to relax. Success in Private Banking requires an amicable person focused on more than just numbers. Most of the people I work with seem to have found a solid work-life balance. In my opinion, that balance has made many of them more productive and interesting to their colleagues and clients. This mentality allows them to not only have a strong work ethic but also form personal relationships with their clients.

What other groups do you liaise with regularly within the Firm?

Due to the nature of my job, I typically interact most frequently with the investment side of the Firm. However, because our clients have a wide variety of needs, I am able to work with almost every department in the Private Bank.

How do you apply your degree to what you're doing now?

I was a double major in International Relations and Economics. The Economics major is more obviously applicable to my job as it gives me an understanding of the market and economy which gives me a solid base for understanding a business. My International Relations major has given me a more general awareness and knowledge of the world outside the traditional concepts of finance and economics. It allows me to understand not just the fundamentals of business but also the historical and present influences on the economy and market.

Euching Lin M.Sc. (Econ), The London School of Economics and Political Science; B.A. International Relations, Boston University Director, Private Banker

If asked about your career at a dinner party, how would you describe it?

We provide comprehensive wealth management solutions to high-net-worth individuals. We tailor services to client needs - that includes investing client wealth, providing trust and estate planning and assisting clients in accessing the capital and lending markets. We manage both sides of the balance sheet. Our services range from investing assets in separately managed accounts, alternative investment vehicles (for instance, private equity and hedge funds), setting up charitable remainder trusts, or hedging concentrated equity positions. We have an intimate knowledge of the markets and a deep understanding of client needs, at every stage of the wealth creation cycle. We hope that kind of service develops trust and builds strong relationships, as we manage, grow and preserve the wealth of our clients through successive generations.

How would you describe your team and the people you work with?

I work with a diverse group of talented professionals. There is a clear dedication to serving clients with thoughtfulness, speed and care.

What advice would you offer prospective candidates on transitioning from school to the workplace?

First, find a mentor and network within your business and within the firm. Working for a large organization opens many possibilities, but seek opportunities and seize them when they come. Second, commit to being a top performer. Dedicate yourself to lifelong learning. Third, whether you are hired in a sales, product or operational capacity, remain positive, client-focused and demonstrate initiative. This keeps our interests aligned with those of our clients.

What do you consider Citi's competitive edge?

Citi is a global financial powerhouse. Our global reach is rivaled by few firms. We provide cutting edge wealth management solutions in investments, trusts capital markets and lending, all under one franchise.

Kristen Stein Bachelor of Science in Business Administration, Bryant University Analyst

What advice would you offer prospective candidates on transitioning from school to the workplace?

The transition from school to the “real world” was not as hard as I imagined. The hardest part was adjusting to waking up so early and then managing to stay awake throughout the workday! I would suggest trying to get on an appropriate wake-up schedule a few weeks prior to your first day. The great part about being in the Citi Private Bank Analyst Program is that during the initial six-week training, you are surrounded by your peers. Make the most of it by developing relationships with them and building your network. You will find that they will become valuable resources to call upon regardless of your role at the Private Bank.

How would you describe your team and the people you work with?

The people I work with are incredibly intelligent, hardworking and also caring individuals. It is also evident that the senior people I work with are committed to helping me develop my career.

What other groups do you liaise with regularly within the Firm?

My role involves working with many different groups within the Firm. Within the Private Bank I have regular contact with Bankers, Investment Strategists, Analysts, and Relationship Officers. I also work with the technology team on the rollout of our new client-reporting tool, the Investment Management Performance Review. Outside of the Private Bank I work closely with individuals at Citi Alternative Investments (CAI) and the Global Wealth Management (GWM) investments team.

What skills have you found to be the most useful in your position?

I have found that my proficiency in the Microsoft Office Suite of programs, especially Excel, to be the most useful in my position. Also, attention to detail and time management are both extremely important in my role.

How do you see the your business group/the Firm/the industry changing in the future?

I envision that the U.S. Private Bank will continue to build out its investment platform. I believe the revenue split of 85% banking & lending, 15% investments will be reversed and our CEO, John Longley, has voiced his commitment in doing so.

How did your summer internship help you make the decision to pursue a career at Citi?

Prior to my full-time employment at the Citi Private Bank, I completed numerous internships throughout Citi. I interned at Smith Barney branch offices located in Long Island and Providence, RI. I also spent a summer working at Smith Barney Managed Account Operations and spent two summers with the Citi Private Bank, LatAm Investment Solutions. My various experiences with Citi gave me wonderful insight into the vast number of different employment opportunities that exist within Citi. Unsure as to the exact career path I wanted to take, I knew that Citi would be an excellent place to begin my career due to the large number of opportunities within the Firm and the company’s emphasis on “career mobility.” Specifically, I decided to join the Private Bank’s analyst program because of senior management’s commitment to the program and the program’s focus on cultivating talent/career development.

What do you enjoy doing outside work?

I enjoy spending my free time traveling, ice-skating and working on my photography.

Naz Vahid Master of International Finance/Columbia University; BA in Economics and Sociology/William Smith College. Managing Director

If asked about your career at a dinner party, how would you describe it?

Over the last 22 years, I have had an exciting and challenging career at Citi Private Bank. I have worked in an ever-changing, fast-paced environment with incredibly intelligent and driven colleagues as well as clients. Whenever I have felt a need to expand my horizon whether as a Private Banker, a Credit Analyst or Mortgage Specialist, I have always been given the opportunity to move on to different and more challenging and rewarding positions. This is a diverse organization that recognizes and rewards hard work.

What about your career excites you the most - gets you out of bed in the morning?

My colleagues and my clients. My clients are some of the top lawyers in the country. The most intelligent CEOs in the world seek my clients for advice when negotiating complex deals. My colleagues and I, on the other hand, get to build strong personal relationships with these lawyers and work with them as their trusted Financial Advisors.

What do you consider Citi's competitive edge?

Citi is a diverse organization both in terms of its geographic and cultural reach. It is a dynamic and ever-evolving financial powerhouse with a highly motivated and qualified workforce that is truly committed to employees and clients.

What skills have you found to be the most useful in your position?

Listening, team work, flexibility, networking and strong work ethic.

Where do you see yourself in five years?

I would like to continue growing in a management position within Global Wealth Management where I can leverage my 22 years of business experience to further improve our platforms for our internal and external clients.

What do you enjoy doing outside work?

Being a mother, wife and daughter.