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May 22, 2012updated 04 Apr 2017 3:40pm

Delaware office signals Citi American growth

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.

By Umberto Bacchi

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.

“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.

In 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.

 

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