Julian Restrepo/Citigroup via AP
Citigroup announced the promotion of a new head of North America private banking on Thursday.
Halé Behzadi will step into the role effective immediately, according to an internal memo sent on Thursday by Ida Liu, global head of Citi's Private Bank, which was reviewed by Insider. In her new position, Behzadi will report to Liu and the global private bank leadership team.
Behzadi is a veteran of Citi. Since 2014, she has been a managing director and global market manager of the western region within the firm's private-banking division. She started her career within the private bank by setting up its outpost in Beverly Hills, California, according to the memo, and holds senior roles in a variety of corporate groups.
Among them are the North America diversity operating committee, of which Behzadi is executive sponsor, as well as the firm's California Leadership Council, of which she is a co-chair.
She has been with Citi since 2002, according to her LinkedIn page, and was previously a senior vice president at Bank of America, where she spent 12 years.
In Thursday's memo, Liu praised Behzadi's performance in the role she's leaving behind. The private bank's western region doubled its revenues and business volumes under Behzadi's tenure, according to the memo.
Liu herself previously ran the private bank in North America until mid-April, when Citi named her global head of private-banking. Citi reshuffled the structure of its wealth-focused businesses earlier this year, uniting its private bank and consumer bank wealth units under one roof.
As Behzadi assumes the top job in North America private-banking, Liu said that Citi will imminently post the role left vacant by Behzadi's promotion. Liu also expressed enthusiasm about the private bank's future prospects.
"We look forward to winning in wealth together as the number one private bank in the world," she wrote.
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