Citi Private Bank announced a new appointment Monday, adding to its growing list of new hires.
Citigroup’s [C] private banking arm announced it hired Thomas Petrone as a managing director and head of capital markets for North America. Petrone, who will be based in New York City, will work on capital markets solutions for ultra high net worth clients. He will report to Steve Bodurtha, the unit’s head of investments for North America.
“At a time of tremendous market volatility and global complexity, capital markets solutions are essential tools for our clients,” Peter Charrington, the chief executive officer of Citi Private Bank in North America, said in a press release. “Tom is a professional with more than 30 years of experience in fixed income and equity derivatives. He’s a proven leader, skilled manager and subject expert. His skills will help our private bankers in creating solutions for ultra high net worth clients.”
Petrone founded the Connecticut-based family office, TAP Investments, focusing on investments in fixed income, equity and derivative securities as well as private equity limited partnerships.
On Friday, Citi Private Bank announced it hired former Barclays Wealth private-investment manager Stacy Devine as an investment counselor in Chicago. She will report to Michael Persinski, head of investments of the private bank's eastern U.S. region.
Devine worked for the the wealth management unit of London-based Barclays PLC. She also worked at Lehman Brothers and Goldman Sachs Group Inc. [GS] as a portfolio adviser.
Last week Citi Private Bank announced it hired two former Deutsche Bank [DB] wealth managers in Dallas, John Edrington III and Charles Davis, who join as director-level private bankers. They report to Mark Connally, head of Citi Private Bank's U.S. southwestern region.
Other recent appointments include: John J. McGinness joins Citi’s New York group as managing director and ultra high-net-worth private banker. He was a managing director for U.S. Trust, Bank of America Private Wealth Management [BAC], also in its New York office. Also, Katherine Stith joins the company as director and law firm group private banker, working in Washington. Before joining Citi, she was a vice president and private banker in Wells Fargo Bank’s [WFC] legal specialty group.