The newly-appointed figure has worked at the US bank for 20 years.

Citigroup has appointed Jonathan Leach as market executive and head of Citi Private Bank for the UK and Jersey, with immediate effect. He has taken the helm from Jeremy Knowland and will spend time working alongside Knowland to enable a smooth transfer.

Leach has worked at the US-headquartered lender for two decades. When he joined Citigroup, he was an investment counsellor in the UK, leading the UK investments team.

Leach has held senior positions including head of investment for North America, global head of investment and client solutions and deputy head, Citi Investment Management and most recently, head of investment advisory for UK, Europe, Middle East.

In his new role, Leach reports directly to James Holder, who is head of UK, Europe & the Middle East. He also has a reporting line to Tiina Lee, UK Citi cluster and banking head. Leach will work with market executives and functional partners to ensure coordination and partnerships to drive the private bank’s EMEA strategy.