Citigroup, the US banking group, has appointed David Poole to the position of managing director and head of business development for its pri...

Citigroup, the US banking group, has appointed David Poole to the position of managing director and head of business development for its private banking operation in Europe. Mr Poole’s position, which will primarily focus on supporting the building of the bank's UK business, is effective from May 2006. Citigroup said the UK has been singled out by senior management for significant investment funds within the private banking sector and that this had been the driving force behind the new position. Mr Poole joins Citigroup from Merrill Lynch. He will report directly to Marianne Hay, chief executive of global wealth management in Europe. In addition, he will have a reporting line to Peter Charrington, general market manager for the Citigroup Private Bank in the UK and Greece. At Merrill Lynch, Mr Poole was director and head of business development for the private client division and a member of Merrill Lynch’s management team. Peter Charrington told WealthBriefing: "I believe that David will greatly assist in fostering new client acquisition channels, both onshore and offshore. "He also has a great deal of experience in cross-selling opportunities with Merrill’s investment bank and this will be something he can continue at Citigroup with our formal partnership with the investment bank." Mr Poole was instrumental in bringing together Merrill’s two private client businesses, Merrill Lynch Investment Managers private investors and global private clients, in 2004. He has been awarded for his work in the private client sector since starting at Singer & Friedlander in 1989. The Citigroup Private Bank Europe team liaises with a range of ultra-high net worth individuals, intermediaries, private client lawyers, accountants, trust companies and family offices. Mr Charrington said the division will be making further hires over the coming months.