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Frances Sevilla-Sacasa Named as President at US Trust

Contributing Editor

4 November 2005

Frances Sevilla-Sacasa, the former head of Citigroup Private Banking business in Latin America and Europe, has been appointed president of US Trust. Ms Sevilla-Sacasa joins her previous boss at Citigroup, Peter Scaturro, who joined US Trust as its chief executive after resigning from Citigroup following the bank's problems in Japan in late 2004. Under Mr Scaturro's reign at Citigroup, Ms Sevilla-Sacasa was given responsibility of running both the Latin American and European parts of the private bank, which led to a punishing travel schedule. After Mr Scaturro's departure, her responsibilities for Europe were dropped, which many insiders saw as a lessening of her influence under the new head of wealth management at Citigroup, Todd Thomson. The position as president at US Trust is a new one, and Ms Sevilla-Sacasa will also sit on the executive committee of the bank.