Inside the Family Office: Managing Wealth, Expectations, and Legacy
Key Takeaways
- Family offices are rapidly growing in significance and are projected to manage more assets globally than the hedge fund industry by 2030.
- Family offices are actively addressing global challenges and are strategically re-evaluating their global footprint, seeking resilience, and adapting their investment strategies to these dynamic conditions.
- The core objectives for family offices remain wealth preservation and preparing the next generation.
In series 2, episode 1 of the Citi Institute podcast, host Alex Miller is joined by Citi Wealth’s Hannes Hofmann, Head of the Global Family Office Group; Kate Moore, Chief Investment Officer; and Dawn Nordberg, Head of Integrated Client Engagement. Together they discuss the 2025 Global Family Office Report and explore tailored investment approaches, succession planning, family legacy and expectations, and the preservation of generational wealth in this complex and growing segment.
Hannes Hofmann discusses the importance of the Citi Wealth Report which provides valuable quantitative and qualitative insights and explains how family offices are increasingly important actors in global financial markets.
Kate Moore highlights how the unique attributes of family offices allow them to strategically leverage direct and private investments to generate returns, diversify portfolios, and align with their broader objectives and investment strategies.
Dawn Nordberg explains the importance of putting the client first, facilitating networks like the Citi Club, where family offices share opportunities and co-invest, and stresses the need to understand each family office’s objectives and challenges.
Our guests express optimism about the family office segment and emphasize Citi’s commitment to serving their unique needs through an integrated, client-centric approach.
The speakers views are their own and may not necessarily reflect the views of Citi or any of its affiliates. All opinions are subject to change without notice. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.
Hannes Hofmann, Head of the Global Family Office Group, Citi Wealth
Hannes Hofmann is a Managing Director at Citi Private Bank and Head of the Global Family Office Group. Citi Private Bank’s Global Family Office Group serves over 1800 single family offices, private investment companies and private holding companies, including family-owned enterprises and foundations, around the world. The team offers clients comprehensive private banking and family office advisory services, institutional access to global opportunities, and connections to a community of like-minded peers.
Hannes has an extensive global institutional wealth background. He joined Citi from J.P. Morgan where he spent over 20 years in numerous roles globally. Most recently, Hannes was the Head of Multifamily Office and Intermediaries for the Asia Pacific, Europe, Middle East & Africa, and Latin America regions. Previously, Hannes was Head of the Global Investment Opportunities Group in Asia, where he led teams in Singapore and Hong Kong that provided investment advice to sophisticated, trading-oriented clients in J.P. Morgan Private Bank Asia.
He was also the Head of Investments in the U.S. Southeast region at J.P. Morgan.
Hannes holds an MBA from Stanford University, a Master’s degree from CEMS/London School of Economics, a Master's degree from the Vienna University of Business and Economics, as well as the Chartered Financial Analyst (CFA) designation. He is a former board member of the Wolfsonian Institute in Miami.
Kate Moore, Chief Investment Officer, Citi Wealth
Kate Moore, Chief Investment Officer of Citi Wealth, joined in February 2025 and is responsible for overseeing and delivering Citi Wealth's investment and portfolio strategy, including asset allocation.
Prior to joining Citi Wealth, Kate was the Head of Thematic Strategy and a Portfolio Manager for the Global Allocation Fund at BlackRock. She originally joined BlackRock as Chief Equity Strategist and later founded and served as executive sponsor of the firm's Women in Investments group.
Previously, she held senior investment positions at J.P. Morgan, Bank of America Merrill Lynch, Moore Capital, and Morgan Stanley.
Kate holds a Bachelor of Arts in Political and Social Thought from the University of Virginia where she currently serves on the Board of Managers of the Alumni Association. She also holds a master's degree in political economy from the University of Chicago. Kate also is on the Leadership Council for Robin Hood, the Board of Trustees for the Lawrenceville School, and the Resource Council for the Grand Teton National Park Foundation.
Dawn Nordberg, Head of Integrated Client Engagement, Citi Wealth
Dawn Nordberg is a member of the Citi Wealth Senior Leadership Team and Global Head of Integrated Client Engagement for Citi Wealth, based in New York. Dawn’s primary focus is enhancing the partnership between the Banking, Markets and Wealth Businesses to deliver cohesive advice and solutions to Citi’s clients while also driving incremental commercial opportunity through the collaboration. Further, Dawn oversees Citi’s Global Family Office Group which serves single family offices, private investment companies and private holding companies, including family owned enterprises and foundations, around the world. Within Wealth Dawn also leads the Market Planning and Growth Accelerator efforts, areas of strategic focus aligned towards growing client assets under management.
Prior to joining Citi, Dawn spent her entire 25-year career at Morgan Stanley, where she built deep expertise in both Wealth and cross-functional partnerships.
Most recently, she served as the Group Head of Strategic Client Management for Morgan Stanley Private Wealth Management, responsible for managing cross-collaboration, marketing and execution opportunities between the Institutional Securities and Wealth and Investment Management divisions. Previously, she served in a variety of roles in Morgan Stanley’s Institutional Securities Group, including several years in the Investment Banking, Global Capital Markets and Fixed Income divisions.
Dawn received a BA in Economics, European History and French from Bucknell University.
View the 2025 Global Family Office Report
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