Citi Private Bank takes on BoFA executive

14 May 2010

Citi Private Bank is to appoint Charles Merrill from Bank of America’s (BoFA) wealth management division.

Mr Merrill will join the Citigroup unit in July after leaving the US Trust following eight years working for BoFA.

Leslie Bains, the interim manager of the department, is expected to return to work within Citigroup’s client development division once her successor has taken up the post.

The new post holder will report to Peter Charrington, head of Citigroup’s private banking operations in North America.

Mr Charrington was quoted by Nasdaq as saying that the appointment was “yet another demonstration of Citi Private Bank's steadfast commitment to attract the most talented private banking professionals in the industry”.

Previously, the new Citi employee worked for Merrill Lynch as the head of a team of investment advisers.

Citi Private Bank has made a number of recent hires from US Trust including Daniel Williams as a managing director and private banker and Todd Devin, another senior executive with the BoFA.

Kimberlea Archer, private client adviser at US Trust, left to join BNY Mellon Wealth Management.

By Jim Ottewill

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