Citigroup has hired Chris Biotti as the new head of its private bank for North America.
Biotti, who is set to join Citi in late May, will report to Andy Sieg, the head of Citi’s wealth business, reported Barron’s.
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“Chris is known as a hands-on executive with a proven track record of building high-performing teams and developing a strong culture,” Sieg wrote in a memo viewed by the publication.
Biotti previously led the northeast division of Bank of America’s private bank. In this role, he managed seven markets and 25 offices.
Earlier, he served at Neuberger Berman and Lehman Brothers.
The role Biotti is set to fill has been temporarily held by Cayman Wills since last summer, following the abrupt departure of the former head, Don Plaus, after just four months.
Plaus, like Sieg and Biotti, was also a former Bank of America wealth division executive.
Sieg, who joined Citi in late 2023 after leading Merrill Lynch Wealth Management, is tasked with turning around the bank’s previously underperforming wealth management business.
A spokesperson for Bank of America refused to comment on Biotti’s replacement.
In February 2024, Citibank Singapore completed its two satellite wealth advising centres.
Global wealth head Andy Sieg inaugurated the centre at One Holland Village, joining Parkway Parade that opened in December 2023.
