London-based Andrew Pitt has been promoted to global director of research at Citigroup Wealth Management. Mr Pitt has been head of research at the US bank’s Europe, Middle East and Africa operation for five years and replaces Bill Kennedy who is leaving the bank. According to a memo obtained by Financial News Mr Pitt said: “Having spent my career in equity research, I am a passionate believer in the critical value of quality analysis in the investment and capital formation process. CIR is a pre-eminent provider of this analysis and our clients currently need our support and advice as much as ever.”