Citigroup Inc. (NYSE:do) is one of the best ever stocks to buy now. On February 26, BlackRock selected Citigroup Inc. (NYSE:C) to provide select intermediary functions for $4 trillion in US-domiciled ETFs. The deal affirms the long-standing relationship between the two companies while reaffirming Citi’s advantage in ETF and middle-office services capabilities.
Citi has also been a trusted partner as BlackRock increasingly transitions its ETF operating model to the Aladdin platform. In 2021, the asset manager selected Citi as a post-trade services provider for its US-domiciled iShares ETFs. Accordingly, the company has been providing custodial fund management and transfer agency services.
Following the deal with BlackRock, CEO Jane Fraser reiterated that Citigroup is targeting ROTCE of 10% to 11% this year, driven by revenue growth and disciplined capital allocation. As part of the initiative, the bank is investing heavily in artificial intelligence and technology to improve productivity and customer service. It is also in the process of integrating a retail bank into its wealth management in a bid to create synergies and drive growth.
Citigroup Inc. (NYSE:C) is a global diversified financial services holding company that offers consumers, corporations, governments and institutions a broad range of financial products and services. Its primary business activities include investment banking, retail banking, securities brokerage, transaction services and wealth management.
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