Photo via citigroup.com
Citi's wealth business has grown revenue for ten consecutive quarters and just took in more than $38 billion of net investment flows in one quarter, a record, Andy Sieg, Head of Wealth at Citi, told CNBC's Halftime Report.
Private credit and private equity had a volatile year, and many investors are questioning whether cracks are forming in both. Andy said Citi still recommends them to clients as long-term holdings, on the condition that the client can vet the manager and is not treating the position as a trade.
"This is arguably the fastest growing wealth business in the world right now."
Citi CEO Jane Fraser hired Andy three years ago to turn the wealth business around, and the record quarter is the clearest result of that effort so far.
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Here are the 4 insights that matter.
Halftime Report · Oct 28, 2026
With Andy Sieg, Head of Wealth at Citi
Key Takeaways
Citi Wealth has grown revenue for 10 straight quarters, with record net investment flows of more than $38B last quarter
Premium Boost is Citi's defense against AI agents moving idle checking balances into higher-yielding assets
More than 25,000 clients made contact in its first two days
Citi is slowing the rollout of its AI tool, Citi Sky, because clients have to trust it first
Citi still recommends private credit and private equity as long-term building blocks, not as trades
Investors resist bonds for behavioral reasons, Andy said, chasing what is hot and selling in fear
1. Ten Quarters of Growth
Andy opened on Citi's latest results. The wealth unit has posted ten straight quarters of revenue growth, and net investment flows in the most recent quarter were the largest the business has recorded.
Citi Wealth brought in more than $38 billion of net investment flows in the quarter, an all-time record
"The business is rocking. We've had ten quarters of revenue growth... these were all-time record flows for us — over 38 billion of net investment flows in the quarter." — Andy Sieg
Organic flow growth is running above a 10% annual rate. On that basis Andy said Citi has a claim to be the fastest-growing wealth manager anywhere, a claim he hedged with "arguably" when he made it on air.
