Citi has recently added a high-profile new wealth advisor to its team – and That’s AI-generated.
Last week, Citi unveiled “Citi Sky,” a 24-hour AI-powered wealth advisor that will begin available to some customers this summer. They’ll be able to ask personalized financial questions and market insights from the man in the blue blazer and blonde city sky. Andy Sieg, Citi’s head of wealth, predicted in a press release that the tool will “transform the model of wealth management,” becoming more intuitive “over time,” the bank said.
Deependra MalhotraThe company’s wealth technology head, who was involved in developing the tool, said the current limitation for AI agents in the wealth management industry is memory, both momentary and long-term.
“There is a short-term memory: how long can you have this conversation before hallucinations start?” he asked while speaking at a panel for New York Fintech Week on Tuesday. New algorithms will likely help summarize conversations in real time, he said, so agents can talk for longer periods of time.
“The second is the ability to have long-term memory, and that’s about almost all conversations: all the clicks, all the things we know about our clients, transactions,” he said, adding that, for example, advisors keep track of personal, financial and political events.
Malhotra said agents who remember and have consistent interactions with clients will help wealth advisors be more productive and retain more relationships.
“That’s nirvana,” he said, noting that memory abilities are increasing.
Such constant awareness can expand the number of clients an advisor can effectively serve, he said, adding that these tools are all about “productivity and scale.”
Malhotra said Citi still plans to hire more wealth advisors, a point Sieg also made when announcing Citi Sky, which was developed with technology from Google Cloud and Google DeepMind.
Throughout the wealth management industry, AI is being deployed to automate tedious work, personalize advice and help advisors cover more clients. For example, Bank of America has launched a tool that helps its advisors prepare for, conduct, and follow up on client meetings.
Citi, like its Wall Street rivals, is also Investing in generic AI Beyond your money business. For example, CEO Jane Fraser said on an earnings call in January that GenAI tools have saved developers 100,000 hours per week with automated code reviews. The bank spent $2.3 billion on technology and communications in the first quarter of 2026, according to an April earnings presentation.