Citi Private Bank has hired a new global head of direct private investments, to be based in New York.

Itay Blasenheim joins from his own business, Caravan Wellness, a startup that focused on healthy living programmes.

He previously worked as a private equity and venture capital adviser for Chinese firm QHMA and prior to this was a managing director for alternative investments at JP Morgan between 2010 and 2017.

He reports to global chief investment officer David Bailin.