Citi Private Bank has opened a new US office
in Greenville, Delaware.
The decision followed the bank’s business
expansion in the US’s Northeast.
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“We are already a trusted adviser to some of
the wealthiest individuals and families throughout Delaware and
opening an office here has been a priority for us for some time,”
said Paul Hubert, Citi Private Bank eastern regional manager.
Strong North American
performance
In the first quarter 2012, Citi Private Bank
revenues increased 11% to $570m from the same quarter in 2011,
driven primarily by growth in North America lending and deposits,
as well as stronger capital markets activity.
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By GlobalDataIn 2011, Citi’s total private banking income
grew 7% reaching $2.1bn, from $2bn in 2010.
The private bank reported a total of $250bn
assets under management.
New office planned for
Pennsylvania
Citi is also planning to open another office
in Conshohocken,Pennsylvania, for its ultra
high net worth (UHNW) private banking team.
The Greenville office will be led by Barbara
McCollum, Southeast Pennsylvania and Delaware region executive,
together with Bob Rosenberg, managing director UHNW private
banker.
