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Citi Private Bank Bolsters UHNW American-Asian Team
Eliane Chavagnon
3 October 2012
Citi
Private Bank has been bulking out its North American Asian clients group in New
York, San Francisco, CA, and Los Angeles, as it looks to capture
additional market share from what it believes is one of the world’s
fastest-growing ultra high net worth segment. In February, Jane Bachmann joined as a director and UHNW private
banker, based in San Francisco, CA. Bachman joined from The Presidio
Group in San Francisco, where she was a managing director and partner,
focused on providing wealth management strategies to both US and Asian
high net worth individuals, family offices and non-profit organizations. More recently, in August Denise Yi was brought in as a vice president
and UHNW private banker, based in Beverly Hills, CA. Yi joined from
HSBC, where she was a vice president and private banking relationship
manager within the firm's Beverly Hills office. During her five-year
stint at HSBC, Yi worked closely with Asian UHNW clients in Los Angeles.
At Citi Private Bank, she will work closely with the LA team on building the group’s local Asian client base. Finally, last month Diana Ding was appointed as a vice president and
associate banker in New York. Ding joined from Citi’s institutional
clients group in New York, where she was most recently a senior
associate and lead North America equity index strategist. In her new
role, she will work alongside the bank's New York Metro team. The group is led by Ida Liu, managing director and head of the North
America Asian clients unit. The services offered to Asian clients include tactical trading and
investment ideas, real estate strategies, cross border trust and estate
planning, foreign exchange and global reporting. Liu said the group has significantly grown its Asian clients base
- in addition to its assets under management - over the past year. "We
attribute this growth to the better alignment of our UHNW Asian clients
with dedicated Asian clients group bankers, providing customized
services and the ability to deliver global solutions,” she added.