May 20 Citigroup Inc on Tuesday appointed former Credit Suisse executive William Woodson as a managing director in charge of its private bank's North America family office group.
Woodson, who was a certified public accountant at Coopers & Lybrand and Arthur Andersen for a decade before working directly with wealthy clients as a financial planner, will replace Stephen Campbell when he begins work in June.
Campbell, who joined Citi in 2011, has been named chairman of the North America family office group. He will work directly with foundation and large family offices in North America and globally, the bank said.
Woodson has been with Credit Suisse since 2007. He was based in Chicago and ran the "ultra high net worth" and family office business for North American clients with $25 million to $2 billion of net worth. The Swiss bank on Tuesday agreed to pay $2.5 billion to the U.S. government and regulators for helping wealthy clients evade taxes.
After leaving Coopers, Woodson was a private banker with Merrill Lynch and also a founding member of myCFO, a wealth management and technology firm started by Netscape founder Jim Clark and Cisco Systems Inc's CEO, John Chambers.
Woodson, who holds a B.S. degree in economics from the University of California at Irvine and an accounting master's degree from New York University, reports jointly to Catherine Weir, global head of Citi's family office group, and Peter Charrington, chief executive of Citi Private Bank, North America. He will be based in West Palm Beach, Florida. (Reporting by Jed Horowitz in New York; editing by Matthew Lewis)