People Moves
Citi Bolsters UHNW Network With San Francisco Hires
In another indicator of growth in the US,
Citi Private Bank has added two new private bankers to its
San Francisco office.
Mark Immel joins the branch as managing director, while
Sandra Penner steps in as director. Immel has over 20 years
of experience in the financial services industry and was most
recently senior vice president and private client advisor at US
Trust, Bank of America Private Wealth Management. Penner also
joins from US Trust, where she was senior vice president and
private client manager.
Citi North America chief executive officer
Peter Charrington said the hires demosntrate the firm's
commitment to expand its West Coast franchise, with particular
focus on the area's ultra high net worth clients in the Bay Area.
As reported by this publication last month, the bank intends to
significantly boost headcount among advisors for its ultra high
net worth arm.
At least 100 new private bankers are to be hired over the next few years, bringing the private bank’s UHNW group, which targets investors with a net worth of at least $25 million, up to 230 to 250 bankers from its current total of 130, Charrington told this publication last month.
(To view the Charrington interview, click here).
