Citigroup has promoted Peter Charrington to global head of Citi Private Bank.

Charrington has been with Citi since 1994. He succeeds Mark Mason, who was recently named chief financial officer for Citi's Institutional Clients Group, according to a press release issued Monday.

Charrington was named CEO of Citi Private Bank for North America in 2009, when following the company's sale of the Smith Barney brokerage business, Citi Private Bank shifted its focus to clients with at least $25 million in net worth. He later ran the Private Bank in the U.K., Greece, Israel and Monaco. Prior to joining Citi, he was a private banker in the United Kingdom.

"In his 20 years at Citi, Peter has helped build the Citi Private Bank brand, significantly increasing assets under management," Jamie Forese, Co-President of Citi and Head of the Institutional Clients Group said in the release. Through its complementary relationship with Citi's Institutional Clients Group, Citi Private Bank offers clients advice and products normally reserved large companies and investors, managing $310 billion in global assets, Forese added.

"Having spent my entire career in the Private Bank, working across Europe and most recently as CEO in North America, I am honored and humbled" to accept this role, Charrington said.

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