Citigroup, Inc (NYSE: C)’s private banking division has named Thomas Petrone, a long time official in Citigroup, Inc (NYSE: C)’s investment banking division, to oversee the company’s management of a number of complex investments, including fixed-income and equity derivatives, foreign exchange, options and structured products.
Previously, Petrone founded TAP investments, a CT-based family office after working 28 years for Smith Barney and later Citigroup, where he served as the co-head of U.S. equity derivatives from 2004 to 2007 in the company’s investment-banking unit.
Petrone will be based in New York in his new role and will report to Steve Bodurtha, the Citigroup’s private bank’s head of investments for North America.
Citi Private Bank has also made other senior-level hires in Dallas, Chicago, San Francisco, Silicon Valley, Los Angeles, Seattle, Vancouver and Orange County, CA. The unit provides investing, lending, risk-management, trust and other services to clients that have a net worth of at least $25 million.
Citigroup, Inc (NYSE: C) shares traded up 4.23% on Friday ending at $3.94
