In this role, Mr Bodurtha will be responsible for managing the investments platform for Citi Private Bank across the US and Canada. He will report to both Peter Charrington, CEO of Citi Private Bank in North America, and global head of investments, Shantanu Rastogi.

Mr Bodurtha joins from Bank of America Merrill Lynch where for many years he was head of investment products for Merrill Lynch Wealth Management. Most recently, he was head of institutional retirement, philanthropy and investments for Bank of America Merrill Lynch.

Mr Charrington said: "We are delighted to have someone of Steve's capability and expertise joining us as we expand our investments offering and build the most sophisticated platform for high net-worth clients. His experience and leadership will be critical as we enhance existing capabilities and build the top investment talent in the industry."

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