Citi’s wealth management division is making significant moves in artificial intelligence by hiring Dipendra Malhotra as its new head of AI and technology for wealth. Malhotra, who previously held positions at Morgan Stanley and was most recently the CTO at Yieldstreet, will join Citi in May 2024. This strategic hire reflects Citi’s commitment to integrating AI technology into its wealth management services, particularly focusing on enhancing client experiences and operational efficiency. The appointment aligns with Citi’s broader digital transformation initiatives and follows the bank’s recent reorganization under CEO Jane Fraser. The wealth management division, which oversees approximately $785 billion in client assets, aims to leverage AI technology to improve investment strategies, client service, and operational processes. Malhotra’s expertise in AI and technology implementation, particularly his experience in developing AI-driven solutions at Morgan Stanley and Yieldstreet, positions him well to lead Citi’s AI initiatives in wealth management. The move comes as major financial institutions increasingly invest in AI capabilities to maintain competitive advantage and meet evolving client expectations. This appointment signifies Citi’s recognition of AI’s crucial role in the future of wealth management and demonstrates their commitment to technological innovation in financial services.
Source: https://www.businessinsider.com/citi-wealth-tech-hire-ai-dipendra-malhotra-2025-3