Private banks

Liu's promotion is one of a series of moves the company is making in its newly reorganized wealth management unit.

Citigroup’s dealmakers have been keeping busy with family offices looking to get in on the blank-check frenzy. Now the lender wants to bring its private bank a piece of the action.

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.

Overhauling Citi Private Bank's capital markets business in the Americas required finding someone who not only had expertise, but also had the ability to lead while growing revenue. The natural pick was Kristen Bitterly.

The San Francisco bank has roughly doubled its assets in the last five years without the benefit of an acquisition.

Nick Zappia is joining the bank from rival BNY Mellon in what is one of the first key hires of new CEO Kelly Coffey.

JPMorgan Chase is considering setting up a private bank in China as new regulations give foreign firms a better chance to compete with local players in the world's second-biggest pool of wealthy people.

The company has appointed President Gaye Erkan to its board of directors, potentially positioning her to replace longtime CEO James Herbert when he eventually retires.

TNB USA is suing the Fed to force the central bank to let it open an account that earns the same top-tier interest rate currently available only to a select few.

Under CEO Kelly Coffey, JPMorgan Chase’s private bank is growing revenue by double digits and is laying out plans for a big nationwide expansion.

Citi Private Bank has enjoyed double-digit growth in every year since Tracey Brophy Warson took the helm in 2014.