Private banks

The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.

His family got its start in banking by financing camel-caravan traders in the Ottoman Empire and eventually expanded its reach into the U.S., Europe and Latin America.

Citigroup said Peter Charrington, global head of private banking, will leave to spend more time with family and pursue new opportunities.

The unit as of September had 20% more clients than a year earlier. Liu, who is head of North America for Citi Private Bank, explains the changes she’s made to help her group attract and serve millennials, Gen Z, Asian Americans and families.

The New York commercial bank says geographic diversification is a long-term necessity and that the interplay of its private banking and commercial banking businesses has helped it withstand the economic shock of the coronavirus.

In June, Warson became the first person to hold the newly created job of chairman of Citi Private Bank, North America.

Knox's hefty investments in client- and associate-facing technology are paying off for Bank of America's private bank.

This is how the firm tried to make sure no one knew.

Anthony DeChellis’ strategy for staying relevant in a competitive metro market is a little odd — rebuild the private banking business his predecessor shrank — but observers say he might be the executive who can pull it off.

Citigroup has hired Murli Buluswar as head of analytics and information management in its U.S. consumer banking segment. It also has promoted Tracey Warson from head of Citi Private Bank, North America, to chairman of the unit.