Strategy

Citi Private Bank Opens for Business in Monaco

Stephen Harris 21 May 2007

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Citi Private Bank has opened a Monaco office to serve high net worth individuals living in Monaco with a full range of global investment products and tailored financial solutions.

Dirk de Boer, director and senior private banker, has been appointed to head the Monaco operation, which will be located at Monte Carlo Palace, 7 Boulevard de Moulins.

Over the coming weeks, Mr de Boer will be joined by additional bankers and investment specialists. He will report to Peter Charrington, managing director and general market manager of Citi Private Bank in the UK, and will work in close partnership with Marianne Hay, chief executive of Citi Global Wealth Management Europe, in a regional capacity.

Mr de Boer joined Citi in London in 1993, and in 2003 became head of Citi Wealth Advisors in Europe (known as Smith Barney in the US).

Mr Charrington said: "We are delighted to have been granted a license to operate in such a thriving community. Our local presence enhances Citi's ability to effectively anticipate and respond to local client needs and provides us with the opportunity to truly integrate our wealth management business into the Principality."

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