Citigroup Inc (C) Announces A New Partnership With BlackRock

Citigroup Inc. (NYSE:C) is one of the Best Financial Stocks to Buy Right Now. On September 4, Citigroup Inc.’s (NYSE:C) Citi Wealth announced a new partnership with BlackRock to create a new portfolio offering. Under this partnership, BlackRock will manage about $80 billion in assets for thousands of Citi Wealth clients, which were previously managed by Citi Investment Management.

The portfolio offering is called Citi Portfolio Solutions and will combine Citigroup Inc.’s (NYSE:C) expertise in investment advisory with BlackRock’s strength in investment management and technology. BlackRock will manage various investment strategies, including Equities, Fixed Income, Multi-Asset Class, and Private Markets. It will also provide its advanced Aladdin Wealth technology platform to the company’s private bankers to enhance risk management, portfolio insights, and client service.

Management noted that the agreement is expected to initiate in the fourth quarter of 2025, is pending approvals, and is not expected to materially affect Citigroup Inc.’s (NYSE:C) previously disclosed financial targets.

Citigroup Inc. (NYSE:C) is a global financial services company offering a wide range of services. The company operates through several business segments, including Services, Markets, Banking, and US Personal Banking.

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Disclosure: None. This article is originally published at Insider Monkey.