People Moves
Change At Top Of Citi Private Bank; Other Moves Made

There have been a number of changes across the private banking and wealth side of the US bank. The global head of the private bank is leaving after a lengthy career at Citigroup.
The global head of Citi Private
Bank, Ida Liu (pictured), is leaving the firm after almost 20
years at the US organisation. The lender has also made a number
of other changes in its private bank and wealth business.
Ida Liu
“Great careers are defined by embracing new challenges and
opportunities, and this is the right time for me to leverage my
global expertise, leadership experience and passion for growth in
bold and exciting new ways,” Liu said in a message on her
Linkedin page. Her move was also confirmed in a memo from Andy
Sieg, head of wealth.
Liu said she made the decision to embark on "the next chapter of
my professional journey.”
Holding her last position since
April 2021, prior to which she was head of Citigroup’s
private bank in North America, Liu
spoke to this news service about the US organisation’s
strategy. Her tenure coincided with moves by the parent group to
shed retail banking businesses in a number of countries, and she
has also seen the competitive landscape change amid the UBS
takeover of Credit Suisse in 2023, for example.
In its full-year and fourth-quarter results, Citigroup said
private bank revenues in Q4 2024 rose 9 per cent on a year
ago.
“I am incredibly proud of the strong results we have delivered
for Citi over the years. It has been an honour to work alongside
our talented teams and extraordinary clients. Together, we have
reached remarkable milestones – transforming the business,
driving sustained growth and delivering innovative solutions that
have positioned Citi Private Bank as a global leader,” Liu
said.
Other changes
The bank said it is making other changes following Liu’s
departure to simplify its structure and “elevate key private bank
geographies to our wealth senior leadership team, effective
immediately,” according to the aforementioned memo.
Four Citi Private Bank geographies will now report directly to
Sieg: 1) Japan, Asia North, Australia, and Asia South, 2) Latin
America, 3) North America and 4) the UK, Europe and the
Middle East. These will be led, respectively, by Steven Lo,
Antonio Gonzales, Cayman Wills (interim) and James Holder. The
investment counsellors will sit in their respective
geographies.
Christian Zeinler, who is joining as head of strategy for
Citi Wealth and head of business execution for Citi Private Bank,
will report to Sieg. Zeinler has 23 years of experience in
corporate strategy and private bank leadership, most recently as
head of strategy and business development at UBS.
The Family Office Group will become part of the Integrated
Client Engagement group, led by Dawn Nordberg. Hannes Hofmann,
who heads the Global Family Office Group, will now report to
Nordberg.
Johnathan Peterson, strategy partner, will move into a new role
as head of financial planning on the Investment Solutions Team,
reporting to Keith Glenfield.
The memo said that as the bank completes
its sale of Citi Trust to JTC, the trust
business led by Rob Laughlin, will report to Valentin
Valderrabano and the chief operating officer operation.
The bank’ wealth business also welcomed Anne McCosker as its new
head of lending.