People Moves

Citi Targets UHNW Market With New Hires

Harriet Davies, 6 August 2010

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The UK arm of Citi Private Bank has bolstered its ultra high net worth team with the addition of Michael Shorthouse and James Heddle as directors, according to an internal memo seen by this publication.

Shorthouse joins the firm from Merrill Lynch, where he worked for seven years advising private clients. In his former role he worked closely with Merrill's Private Investment Bank to execute large deals on behalf of major families and their businesses, according to the memo.

Heddle comes to the company following a ten-year period at HSBC, where he was latterly a director and UHNW desk head for mainly resident non-domiciled clients.

“James will contribute to the continuing growth of Citi's market share in the ultra high net worth sector,” said the memo.

Both will report to David Poole, head of the UK market region.

As reported by WealthBriefing recently, Citi has also added Vaibhav Sharma, formerly of Standard Chartered, as a director in its UHNW team.

“Vaibhav will contribute to the ongoing growth of Citi's UK based Ultra High Net Worth global NRI business,” the memo stated.

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