What’s the outlook for the super-wealthy?
Individual wealth and family wealth will become much more of a part of any country’s economic policy going forward. Whether this is right, I really don’t know, but clients are aware now more than ever of the fact they are extremely privileged and perhaps how their wealth can help other people. They’re also talking more about responsible capitalism, and they’re also worried about social tensions.
How is the pandemic affecting your events?
We’ve canceled all physical events, and we’re substituting some with virtual ones. For example, we’re currently working on our Family Office Leadership Program. Some of it will be pre-prepared, with us recording speakers before, and some of it will be live.
A virtual event allows more clients to attend, and it’s a lot cheaper. But you might lose out on a certain connectivity you’ve built up over, say, a drink in the evening. In-person conferences are often great because the debate shifts from the podium to the audience, and clients discuss their views among themselves. But who knows? Maybe a virtual conference is actually better.
How did you end up at Citi?
After university, I went to do an MBA at Columbia University. In the summer between the two years, I had an internship at Citi and it had a training program in New York with subsequent postings in countries abroad. I was really young, and I had these romantic thoughts of going to Africa. Citi said: “Train with us in New York and we’ll send you to one of our branches in Africa.”
And so I signed up for the program, but then I realized that I wanted to stay in New York. I was there for six years, and I’ve spent time since then in London, Milan, Madrid and London again. This is all across 35 years. I’ve had roles in the investment bank, corporate bank and private bank, and I’m not unique. A lot of people at Citi have spent their entire careers here.
This article was provided by Bloomberg News.