Citi Private Bank will close its retail branches in Philadelphia early next year, although the firm has stressed that it still considers the state as an important market and that the services provided to clients will not be affected.

Citi Private Bank will close its retail branches in Philadelphia early next
year, although the firm has stressed that it still considers the state as an
important market and that the services provided to clients will not be affected. 

“The recent announcement that Citibank will close its Philadelphia retail bank
branches in early 2014 in no way affects our Citi Private Bank presence in this
market. While our corporate office must seek ways to optimize the branch
network - which includes opening, renovating and, where appropriate, closing
branches - Philadelphia remains an important
market for the Private Bank,” said Peter Charrington, CEO, Citi Private Bank, North America.

“I offer my personal commitment to continue delivering the
highest level of service to the many entrepreneurs and business owners, family
offices, corporate executives and the legal community we’ve had the pleasure of
working with in the Philadelphia
area, and look forward to many more years of service,” Charrington said.

Citi Private Bank has been serving clients in the Philadelphia market for over ten years, with offices in Center City,
Conshohocken, and Greenville, DE,
as well as Cherry Hill and Short Hills,
NJ.

The firm said the services provided to clients of Citi
Private Bank in the Philadelphia
region are not affected by the closing of Citibank’s retail bank branches.
Individual clients will continue to work with their local private bank team,
while law firm clients will continue to work with their banking team as well as
continue to use the bank’s remote desktop capabilities.