People Moves
Citi Private Bank Combines Northern California, Pacific Northwest Regions
The US private bank is changing operations in the Western part of the US, combining two regional units under the leadership of one of its senior figures.
Citi Private Bank is combining its Northern California and Pacific Northwest regions into a single territorial area, under the leadership of Hoyt Gier, who is regional market manager of the US bank’s latter business.
Gier will expand his management role to oversee the broader region as of April 11, the private bank said in a memo seen by this publication.
He will continue to report to Halé Behzadi, global market leader of the US Western region, and will relocate to the bank’s San Francisco office, moving from Seattle, while continuing to spend considerable time in the Pacific Northwest.
"The Northern California and Pacific Northwest markets have reputations as world- class centers of technological entrepreneurship and innovation," Behzadi told Family Wealth Report. "Many of our clients maintain homes and business interests across the West Coast and being able to provide a consistent service level via a streamlined management structure will enable us to better meet their financial needs. We celebrate and acknowledge the local nature of each market which is why our private bankers typically serve a limited number of UHNW clients each from dedicated offices in San Francisco, Palo Alto and Seattle."
Citi Private Bank’s clients have at least $25 million in net worth.
"Many of our clients in the western region are individuals and families whose entrepreneurial spirit has to led to their success and wealth creation across industries such as real estate, technology, and media and entertainment to name just a few," Behzadi added.
Gier joined Citi in 2010 from Goldman Sachs, where he helped open the Goldman Sachs Private Wealth Management office in Seattle. There, he also co-headed a team advising a small group of families, foundations and endowments with over $1.4 billion in client assets.
Lisa Roberts led Citi Private Bank's Northern California region until she left the firm in October 2015.
