Citigroup Adds Another Private Banker In New York

30th Jun 2010 17:11

By Thomas Coyle Of DOW JONES NEWSWIRES Citi Private Bank has hired former HSBC Holdings PLC (HBC) wealth manager Mary Agnes Pan as a private banker in New York. The move marks a return to Citigroup Inc. (C) for Pan, a 30-year veteran of the financial-service business. From 1989 to 1994, she was a Hong Kong-based commercial banker with Citibank. Pan turned to private banking in the mid 1990s, first at NationsBank [now part of Bank of America Corp. (BAC)], then at HSBC, which she joined in 2000. In addition to Pan's appointment, Citi Private Bank has recently made other senior-level hires in New York as well as in Chicago, Dallas, San Francisco, Silicon Valley, Los Angeles, Seattle, Vancouver and Orange County, Calif., and Greenwich, Conn. These additions mesh with Citi Private Bank's plan to double its wealth-manager count to about 260 by 2012, according to a spokesman for Citigroup wealth-management unit. Citi Private Bank provides investing, risk management, lending, trust and other services to clients worth at least $25 million. It declines to say how much it manages or how many clients it has. -By Thomas Coyle, Dow Jones Newswires; 207-631-4235; [email protected] (END) Dow Jones Newswires June 30, 2010 12:11 ET (16:11 GMT)