Global Head, Citi Private Bank
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The global fightback against the COVID-19 pandemic is intensifying.
Since my communication last week, many countries have stepped up their efforts to limit the spread of the virus. Social distancing, self-isolation, and lockdowns run counter to many of our fundamental human instincts. However, I think it is vital that we keep reminding ourselves that these unfamiliar and often unsettling measures represent positive actions that will ultimately help restore normality to our world and each of our lives.
As Citi Private Bank stands with you, our clients, and with our communities around the world during these difficult times, we also stress the need for positive action. In our view, one such action is constantly seeking the highest quality information and analysis. For this reason, we will be holding frequent client briefings with some of the world’s leading experts throughout this immensely challenging period. I will subsequently highlight their key messages in this weekly email.
For some of the most straight-talking and authoritative views of COVID-19’s global ramifications and of the recent oil price conflict, I highly recommend that all clients watch the replay of the discussion between Ian Bremmer of Eurasia Group and GZERO Media and our CIO David Bailin. Ian and David address some of the critical issues of today’s geopolitical, economic, and market turmoil head-on. These include the necessary national and international measures to tackle the economic and financial impacts, as well as the risks. David also sets out our latest economic and earnings expectations, as well as potential opportunities.
With equity markets now well down from their highs, our emphasis is upon positive actions that clients might consider in relation to their portfolios. But while the stock market is grabbing most of the financial headlines, our Investment Strategy team offers a key perspective in For Equities to Rise, Bonds Need to Regain their Footing.
Having gathered such cutting-edge insights, the next positive action clients can take is to engage with us. Our relationship teams, the wider organization, and I are all ready to assist. Based on our clients’ current needs, concerns, and aspirations, we can provide personalized advice and strategies. While the economy and financial markets are anything but normal right now, we are committed to delivering our usual high levels of service.
The precursor to all positive action is positive thinking. I realize that this is easier said than done when the news seems unrelentingly bleak. However, we must stay attuned to the positive. I know that many of you are inspired by the visionary thinking around transformational technologies presented at our Frontiers Conference at Singularity University for the benefit of next generation leaders. (We now aim to hold this year’s edition later in 2020, perhaps in virtual format.) In the spirit of positivity, I wanted to leave you with some frequently overlooked progress in relation to COVID-19, courtesy of Singularity University’s executive founder, Peter Diamandis.
Meanwhile, please continue to look after yourself and your families during these challenging times.
Thank you for the trust and confidence you continue to show in the Private Bank.