Strategy
Citi Private Bank To Sponsor Formula 1 Legend

The sponsorship will start on 28 January at a US endurance race.
Citi Private
Bank has agreed to sponsor Formula 1 legend Fernando Alonso
for his debut appearance in the Rolex 24 at Daytona, Florida.
There has always been a strong association between financial
institutions and sports, but it seems that the number of
partnerships over the last two years has grown
significantly. In
September, ABN AMRO agreed a deal with Dutch football club
Ajax, and in the same month, this publication
reported that English Premier League side West Ham United had
partnered with Forex trading service Hantec Markets.
The sponsorship will start on 28 January at The Rolex 24 at
Daytona – also known as the 24 Hours of Daytona – which is a US
endurance race, the firm said in a statement.
Alonso, who has twice won Formula One’s World Championship, was
sponsored by Citi PB for his debut at the Indianapolis 500 race
in May 2017.
The terms of the sponsorship were not disclosed.
“We are honored and thrilled to continue our association with
Fernando Alonso,” said Peter Charrington, global head of Citi
Private Bank. “Fernando is truly an ambassador for motor racing,
renowned for his perseverance, his teamwork, and his humility
despite his incredible successes. Citi Private Bank shares his
values of excellence, professionalism, and total dedication. We
wish him many further triumphs in his quest to reach the pinnacle
of motorsport.”
Citi Private Bank has approximately $460 billion in global assets
under management. The franchise includes 48 offices, serving
clients across 116 countries. The firm offers clients products
and services covering capital markets, managed investments,
portfolio management, trust and estate planning, investment
finance, banking and aircraft finance, as well as art and sports
advisory and finance.