Citi Private Bank has a new global chief executive admid changes at the top.

Citigroup today said Peter Charrington has been named global head of Citi Private Bank, having most recently been the head of its North America business. He takes the helm from Mark Mason, who was recently named chief financial officer for Citi's Institutional Clients Group.

A successor to Charrington in his role as CEO for the North America business has yet to be announced, a spokesperson for the US-listed banking group told this publication.

Charrington started his career at the private bank in 1994. He was a private banker in the UK and also held roles in structured lending and real estate; he later ran the private bank in the UK, Greece, Israel and Monaco.

Following Citi's sale of the Smith Barney brokerage business in 2009, the private bank shifted its focus to ultra high net worth clients with at least $25 million in net worth, and Charrington was named CEO for North America, the largest region by revenues and assets under management.

"In his 20 years at Citi, Peter has helped build the Citi Private Bank brand, significantly increasing assets under management by working to strengthen client relationships and enhance our product offering and servicing capabilities. The Private Bank is an integral part of Citi and we are committed to continue investing in and growing the business," Jamie Forese, co-president of Citi and head of the Institutional Clients Group, said.

Citi Private Bank has $310 billion in global assets under management. Its franchise includes 50 offices in 15 countries, serving clients across 139 countries. In July, the bank said private bank revenues increased 2 per cent for the second quarter to $656 million from the previous year as growth in client volumes was partially offset by the impact of spread compression.