Global head of Citi Private Bank to leave after 26 years

Alexandra Newlove, 22/10/2020

The global head of Citi Private Bank, Peter Charrington, has resigned after more than 26 years with the bank, thewealthnet can reveal.

An internal memo seen by thewealthnet said Mr Charrington was leaving to spend more time with family and “pursue new opportunities”.

“Peter will assist in ensuring a smooth transfer of responsibilities,” Paco Ybarra, chief executive of Citi’s institutional clients group, wrote in the memo.

Mr Charrington (pictured above) began his career at Citi Private Bank in 1994. He was a private banker in the United Kingdom and also held roles in structured lending and real estate.

He later ran the private bank in the UK, Greece, Israel and Monaco. Following Citi's sale of the Smith Barney brokerage business in 2009, the private bank shifted its focus to ultra-high net worth clients at which point Mr Charrington was named chief executive for North America, the largest region by revenues and assets under management.

He was made head of the global private bank in 2014.

In the memo, Mr Ybarra thanked Mr Charrington for his years of service and wished him future success.