Citi Private Bank Issues New White Paper “Family Offices and Cybersecurity”

The Family Office Group Addresses Family Offices as Cyberattack Targets, Areas of Risk and Best Practices for Cybercrime Prevention

Citi Private Bank released today a white paper focused on the growing cybersecurity threat and its relevance to Family Offices. The white paper surveyed information security experts in and outside of Citi to provide a comprehensive guide on a topic of high interest to Family Offices. The full white paper can be accessed on the Citi Private Bank website here.

“As seen in recent news, the number of cyber attacks perpetrated against nations, corporations, and individuals are increasing at a rapid pace. One of the most pressing issues our clients face now is cyber security as Family Offices have more and more become targets of cyber attacks. We hope this white paper will impart actionable best practices and identify available resources in the cybersecurity space,” said Edward Marshall, Director, Global Family Office Group, Citi Private Bank, who authored the report.

The white paper outlines the actively evolving unique threat of cybercrime facing Family Offices and offers tips and best practices to combat attempted cyber breaches.

“The Global Family Office team is very committed to serving the needs of the Family Office sector as a key component of our growth strategy. We view this white paper as an opportunity to start conversations with our Family Office clients about the need for increased cyber protection and protocols. Additionally, we will continue the conversation at our Family Office Leadership Program with internal and external information security experts,” said Bill Woodson, North American Family Office Group Head, Citi Private Bank.

“Family Offices now join the largest public companies in trying to protect their cash, IP, brand, reputation, sensitive information, M&A data, etc. from hackers. With cyber and IoT providing bad actors more access points than ever to wreak havoc, we are seeing an all-out war for security talent. Some of the most in demand experts come from the highest levels of the Intelligence Community and Special Operations community. They know the playbook of the information security adversaries.” Jeremy King, president, Benchmark Executive Search

The Family Office Group will be hosting their second annual Family Office Leadership Program on June 26th in Armonk, NY. The three-day executive education program is designed for C-level family office executives and features panel discussions on trends in family office management presented by family office practitioners and leading industry advisors. This year’s leadership program will include a panel on cyber security, led by Edward Marshall, who started his career working for the Federal government in the U.S. and abroad.

Citi Private Bank is dedicated to serving worldly and wealthy individuals and families, providing customized private banking across borders. With approximately $390 billion in global assets under management, the franchise includes 48 offices, serving clients across 130 countries. Citi Private Bank helps clients grow and preserve wealth, finance assets, make cash work harder, safeguard assets, preserve legacies, and serve family and family business needs. The firm offers clients products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance, banking and aircraft finance, as well as art and sports advisory and finance.