Citigroup Inc. said Friday that Charles Johnston will succeed W. Thomas Matthews as head of the global private-client group in its Smith Barney brokerage unit.
Mr. Johnston, 51, is to become the group's president and chief executive officer on Jan. 1 when Mr. Matthews, 54, retires, Citigroup spokeswoman Kimberly Atwater said. The new private-client chief is on Citigroup's management committee and has worked 21 years for the New York company, most recently as director of Smith Barney's retail branch system.
Mr. Johnston will preside over an investment business with more than $1.1 trillion of client assets, 500 branch offices, and 12,100 financial consultants. He is to report to Todd Thomson, 43, Smith Barney's chairman and chief executive. The promotion was reported late Thursday by Dow Jones.
