Feb 4 Citigroup Inc said on Monday it
hired JPMorgan Chase & Co senior private banker Luke
Palacio to lead Citi Private Bank's expansion in South Florida.
Palacio, who assumes his role as a Miami-based managing
director and regional market manager on March 18, will also help
support the growth of Citi's ultra-high-net-worth Latin American
Palacio most recently served as a managing director and
senior banker with J.P. Morgan Private Bank, where he worked as
an adviser to ultra-high-net-worth families. He had been with
the company for more than a decade.
Before that, Palacio worked in corporate finance at ANZ Bank
and NatWest, focusing on financial institutions, energy and
In his new role, Palacio will report to Citi global market
managers Paul Hubert and Genaro Poulat, who respectively cover
the eastern region of the United States and Latin America.
Citigroup, which is divesting its Smith Barney wealth
management business, has in recent years been on a hiring spree
to expand its global private bank presence. Citi Private bank
manages money for people with at least $25 million to invest.
JPMorgan spokesman Doug Morris declined to immediately
comment on Palacio's departure.