NEW YORK - Citigroup on Tuesday formally named Peter K. Scaturro chief executive officer of its private bank.

Mr. Scaturro has been the interim head of the business since April, when he succeeded Todd Thomson, who was promoted to chief financial officer of the banking company. In a statement, Sanford I. Weill, chairman and chief executive officer of Citigroup, said Mr. Scaturro "has brought fresh thinking and strategic insights" to the private bank.

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