Citi Private Bank has appointed Luigi Pigorini as its new chief executive for EMEA, while simultaneously announcing the creation of a new Global Family Office Group, according to an internal memo seen by WealthBriefing.
Pigorini, currently global head of investment finance, rejoined Citi Private Bank in 2009 after having served as regional manager for Italy, Spain and Portugal earlier in his career. He latterly led the bank's investment finance franchise.
Meanwhile, Catherine Weir has been promoted to head Citi’s new family office unit, which is intended to provide what the memo describes as “best-in-class service to the existing and growing number of family offices of our major clients.”
Weir has spent 20 years at Citi in recruiting, retaining and mentoring talent, building operating platforms, navigating markets and adding clients. “She is ideally placed to help us deliver the best of Citi to our family office clients,” the memo continued.
Weir will also serve as vice chairman of the Institutional Clients Group in the EMEA region, responsible for a number of core client relationships as well as being in charge of developing the bank's broader ICG cross-selling initiative in the region. She will continue as chief country officer of Switzerland.
Furthermore, Citi Private Bank re-hired Giuliano Malacarne, previously in the corporate bank in EMEA, as global head of investment finance. In his former career at Citi he served as regional corporate bank head for Italy, Greece, Romania and Bulgaria, and before leaving the bank in 2009 he was CCO of the Italian franchise.
All three new appointees will report to Jane Fraser, head of Citi Private Bank.