Citi launches Sydney wealth hub By Reporter 12 March 2021
The multinational banking group has expanded its presence in the Australian wealth management market, opening a Sydney centre for high-net-worth clients.
In a statement, Citi said it had opened a “wealth hub” within its Sydney CBD banking offices that was “designed to be a holistic knowledge sharing space” for high-net-worth clients.
The group’s head of banking and wealth distribution Gofran Chowdhury said Citi had reconfigured the way it was engaging with this client group to deliver a more personalised experience, following the closure of its remaining physical bank branch in Australia in February.
Initial public offerings scheduled to debut next week
March 12, 2021
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NEW YORK (AP) The following is a list of initial public offerings planned for the coming week. Sources include IPO ETF manager Renaissance Capital, and SEC filings.
Week of March 15
Duckhorn Portfolio (The) - 20 million shares, priced $14-$16, managed by JP Morgan/Credit Suisse. Proposed NYSE symbol NAPA. Business: Produces and distributes luxury wine in North America.
Gain Therapeutics - Bethesda, Md., 3.6 million shares, priced $10-$12, managed by BTIG/Oppenheimer & Co. Proposed Nasdaq symbol GANX. Business: Preclinical biotech developing small molecule therapies for lysosomal storage.
Jowell Global - Shanghai, China, 3.7 million shares, priced at $7, managed by Network 1 Financial Securities. Proposed Nasdaq symbol JWEL. Business: Operates an e-commerce platform for cosmetics and health products in China.
Citigroup tweaks model portfolio to be more defensive, cites elevated valuations
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Last Updated: Mar 12, 2021, 01:26 PM IST
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Synopsis
Citi has a target of 14,800 on the Nifty by December this year which implies a minor downside from current levels.
Reuters
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MUMBAI: Citigroup Global Markets has tweaked its model portfolio to be more defensive given elevated valuations and multiple risks including high commodity prices. The firm has reallocated weightage from financials into defensives such as consumer staples, utilities, IT, and pharma. It has removed IndusInd from the portfolio after outperformance in the last few months. Continued rise in commodity prices + elevated FY22 estimated consensus growth expectations with valuations at over 21 times FY22 estimated EPS is the risk, said Citi s Surendra Goyal and Vijit Jain.
Citi opens Sydney wealth office
Citi opens Sydney wealth office
A global bank has expanded its presence in the Australian wealth management market, opening a Sydney office for high-net-worth advice clients following the success of its initial Melbourne offering.
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In a statement, Citi said it had opened a “wealth hub” within its Sydney CBD banking offices that was “designed to be a holistic knowledge sharing space” for high-net-worth clients.
The group’s head of banking and wealth distribution Gofran Chowdhury said Citi had reconfigured the way it was engaging with this client group to deliver a more personalised experience, following the closure of its remaining physical bank branch in Australia in February.