Citi Private Bank Unveils App For Ultra High Net Worth

Wendy Spires, Group Deputy Editor, London, 30 March 2011


Citi Private Bank has unveiled a new research app for the iPhone and iPad, continuing a recent spate of such launches across the industry.

Designed specifically for Citi’s ultra high net worth private banking clients, the new app – which is free - gives access to the firm’s research materials, strategic publications and video interviews. Specifically, the app offers global economic, equities and fixed income research; advisory services newsletters, including art advisory and finance reports; and video interviews and commentary.

In a related move, earlier this month Merrill Lynch announced the launch of brokerage applications for the iPhone, iPad and BlackBerry which give the clients of Merrill Lynch Wealth Management and Merrill Edge the ability to trade stocks, mutual funds, exchange-traded funds and options.

Private banks and wealth managers are rushing to launch smartphone and tablet apps in the knowledge that clients are increasingly keen to access their financial affairs on the move. While critics have warned that such devices might represent a security risk, proponents argue it is actually the case that proprietary apps are more secure than other web-based platforms.

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