FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE symbol: C)
November 15, 2000
The Citibank Private Bank Acquires Investment Firm, Winter Capital International LLC
Clark B. Winter, Jr. Becomes Chief Global Investment Strategist of The Citibank Private Bank–
New York, NY, November 15, 2000 – The Citibank Private Bank announced today that it has acquired the international investment firm, Winter Capital International LLC. In a related announcement, the firm named Clark B. Winter Chief Global Investment Strategist of The Citibank Private Bank, who will report directly to CEO Peter K. Scaturro.
According to Thomas W. Jones, Chairman and Chief Executive Officer of the Global Investment Management and Private Banking Group, “We are committed to building a world class Private Banking business. This acquisition strengthens the Private Bank’s investment expertise which is a key element in expanding our presence with high net worth clients around the world.”
Winter Capital International structures multi-manager investment portfolios for investors and institutions around the world. The firm has a team of experienced professionals with global and investment expertise and it offers in-house analytical capabilities, comprehensive manager evaluations and sophisticated monitoring processes.
Before founding Winter Capital, Clark B. Winter was President and CEO of Global Asset Management and Senior Vice President at Lazard Freres & Co. Prior to this, he worked for 18 years at JPMorgan, initially opening and managing Morgan’s offices in Madrid and Mexico City. In New York, as Managing Director, he was responsible for investment activities in Latin America and Canada.
According to Mr.Scaturro, “Clark and his team will add an important investment capability to The Private Bank. The focus of our firm moving forward is to increasingly work with ultra-affluent clients in managing their global investments and determining their asset allocation and diversification strategy. As the global markets become more complex and volatile, we believe that the families who employ us will require this expertise as part of our relationship with them as their primary advisor.”
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The Citibank Private Bank provides unmatched global reach in its personalized wealth management services for clients through over 90 offices in 31 countries. The Citibank Private Bank draws on a full range of portfolio management and investment advisory services from the Global SSB Citi Asset Management Group, an array of personal banking services from the Global Consumer Bank, as well as expertise from the Global Corporate and Investment Bank. Citibank Private Bankers act as financial architects, designing and coordinating insightful solutions for individual client needs, with an emphasis on personalized, confidential service. The Private Bank, with $154 billion in customer assets, ranks as one of the world’s largest private banks.
Citigroup (NYSE:C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit (now named CitiFinancial), and Primerica under Citigroup's trademark red umbrella. Additional information may be found at: www.Citigroup.com.