Citi Hires $3 Billion Private Banker from Bank of America

Citigroup’s Private Bank hired on Wednesday an advisor from Bank of America Private Bank in Jacksonville, Florida, according to an announcement from the hiring firm. Teresa Radzinski had been a private client and institutional advisor who had overseen around $3 billion in assets, according to a source familiar with the move. Her customers include family offices with at least $500 million in assets, according to the announcement. Radzinski, who first registered with Smith Barney in 1997, had joined Bank of America Merrill Lynch in 2000, according to BrokerCheck records. She had also previously worked as co-head of financial institutions capital markets and financing for Merrill, according to the announcement. Private bank moves typically include garden leave terms preventing advisors from immediately joining a new employer. Radzinski has not been registered as a broker or investment advisor since late July, according to the database. She did not respond to a request for comment sent through social media. Andy Sieg, head of Citi’s wealth unit, said earlier this year that the firm is aiming to hire around 500 advisors and relationship managers, including around 100 private bankers, part of its push to grow wallet share. Sieg has shaken up leadership of its private bank unit and last year hired Chris Biotti from Bank of America to lead the unit in North America. Ida Liu, who previously had been Global Head of Citi Private Bank, in January joined HSBC as CEO of its private bank. HSBC separately announced on Wednesday that Cayman Wills, who had most recently led Citi Private Bank’s Northeast region, joined HSBC as head of its private bank in the U.S. Citi has roughly 2,300 advisors across its mass-affluent Citigold unit, Wealth at Work and Private Bank. In July, it hired a Merrill market executive to oversee approximately 265 branches of Citigold’s Northeast Region, including offices in the New York City area, Connecticut, New Jersey, Maryland and Virginia.