Citigroup has named Peter Charrington as global head of Citi Private Bank, succeeding Mark Mason who was recently named chief financial officer for Citi's institutional clients group.
"In his 20 years at Citi, Peter has helped build the Citi Private Bank brand, significantly increasing assets under management by working to strengthen client relationships and enhance our product offering and servicing capabilities. The Private Bank is an integral part of Citi and we are committed to continue investing in and growing the business," says Jamie Forese, co-president of Citi and head of the institutional clients group.
"The complementary relationship between the Private Bank and other businesses within the institutional clients group allows us to deliver the same sophisticated advice and product to our private bank clients that is normally reserved for the world's largest companies and investors. This creates an extraordinary advantage for our clients.”
Charrington began his career at Citi Private Bank in 1994. He was a private banker in the UK and also held roles in structured lending and real estate. He later ran the Private Bank in the UK, Greece, Israel and Monaco. Following Citi's sale of the Smith Barney brokerage business in 2009, the Private Bank shifted its focus to ultra high net worth clients with at least USD25 million in net worth, and Charrington was named CEO for North America, the largest region by revenues and assets under management.
"Having spent my entire career in the Private Bank, working across Europe and most recently as CEO in North America, I am honoured and humbled to accept the role of global head of Citi Private Bank," says Charrington. "We have an incredible group of talented individuals around the world delivering the highest quality wealth management services for the world’s most sophisticated ultra high net worth and law firm group clients. Our ability to seamlessly deploy the global resources of the Citi franchise, with a presence in 160 countries spanning every asset class market and product, brings unparalleled value to families with complex investment, estate and succession planning needs."