Citi Private Bank has recruited Adam Gross from JP Morgan in New York as managing director and head of ultra high net worth capital market client coverage for North America, effective next month.

Citi Private Bank has recruited Adam Gross from JP Morgan in New York as managing director and head of ultra high net worth capital market client coverage for North America, effective next month.

In this newly-created role, Gross will report to Steve Bodurtha, head of investments for North America.

Additionally, Citi also added John-Paul Tomassetti to the team as a director, reporting to Gross.

In his role, Gross will partner with the Citi’s private bankers and investment counsellors, as well as product teams within the firm’s institutional clients group, to “initiate and close idea-driven market business for sophisticated markets-oriented clients.” Gross will also work with Citi Private Bank's managed investments team, the chief investment office and Citi Research.

Gross previously spent around 20 years at JP Morgan, most recently as managing director and head of US prospecting and marketing for the global investment opportunities group, of which he was a founder while working as an equity syndicate specialist.

He also held roles as the GIO group’s head of US investors and as a senior investor for the Northeast region. He started his career at JP Morgan as an associate in the investment bank and later as a credit specialist within the capital advisory unit.

Tomassetti, meanwhile, joins from Barclays Wealth Americas (now Barclays Wealth & Investment Management) in New York, where he was a director and investment representative. In that role, he was involved with devising and implementing business development strategies.

Before joining Barclays in 2010, Tomassetti worked for six years at JP Morgan Private Bank as an investment advisor in the GIO group. Previously, he worked at Miller Tabak Roberts in high yield and emerging markets sales, having also spent time on the high-grade corporate bond desk at Solomon Smith Barney.