Citigroup To Increase Private Banker Strength (C)
March 10, 2010 1:19 PM
Citigroup, Inc. (NYSE: C) is looking to double its private bankers in North America over the next several years.
In an interview with Dow Jones Newswire, Peter Charrington, Citi Private Bank’s North America chief executive, said “We have 22 locations in North America and will add selectively by putting talent in key markets." Citi has been adding private bankers in North American regions since last summer. Citi Private Bank has $90 billion business volume. This includes investment, credit, and cash management services.
Charrington said, “clients now have access to sophisticated capital markets, access to the investment bank, access to research, and investment opportunities around the world." He also said that Citi is planning to let its private banking business grow organically, and ruled out any acquisition.
