Citi Private Bank Hires Head Of Investments For North America
By Brett Philbin, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Citigroup Inc.'s (C) Private Bank hired Steve Bodurtha
from Bank of America Corp.'s (BAC) Merrill Lynch as head of investments for
North America, as the firm continues to fill management roles.
In the newly created position, Bodurtha will be responsible for managing the
investments platform for the private bank across the U.S. and Canada. He will
report to both Peter Charrington, chief executive of Citi's Private Bank in
North America, and global head of investments, Shantanu Rastogi.
Bodurtha, who will also hold a managing director title, previously worked at
Bank of America and Merrill Lynch Global Wealth Management for more than 20
combined years, according to Financial Industry Regulatory Authority records.
Most recently, he was head of institutional retirement, philanthropy and
investments for the firm.
His addition comes as the private bank has made several executive changes in
recent months as it moves toward a global leadership structure. In April, Citi
named Jane Fraser as chief executive and Deepak Sharma as chairman of Private
Bank. Charrington took over as CEO of the unit's North American operations in
June.
Citi formed a joint venture for its Smith Barney brokerage with Morgan Stanley
(MS), but retained the private banking unit, which provides investing, banking,
lending and advice to wealthy clients.
-By Brett Philbin, Dow Jones Newswires; 212-416-2173; brett.philbin@
dowjones.com
(END) Dow Jones Newswires
11-19-091336ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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