a leader from Bank of America's Merrill Lynch Wealth Management business with an eye to digital wealth offerings, to head the US consumer wealth business.
Citi's strategy to bring together disparate wealth businesses under one division is similar to one other firms are employing, like JPMorgan's move to create its US wealth business. We are seeing once-in-a-generation wealth creation in many parts of the world, particularly Asia. With our unique capabilities and assets, Citi has both the opportunity and the ambition to lead our industry in wealth management.
By putting these pieces of our firm together in this unique way, we will have all the components we need to win. Our world-class capital markets expertise, global footprint that distinguishes us from competitors, high quality research, great talent and an aspirational brand—all appeal to this broad client base. We also have the ability to source the best asset management partners for our clients based on their needs rather than our own offerings.
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