Citi hires BofA exec for wealth unit post

AP News
|
Posted: Nov 19, 2009 2:34 PM

Citigroup Inc. said Thursday it named a former Merrill Lynch executive, Steve Bodurtha, as managing director and head of investments for Citi Private Bank in North America.

Bodurtha will be responsible for managing the investments platform for Citi Private Bank in the U.S. and Canada. Citi Private Bank is a Citigroup unit that caters to wealthy clients.

Bodurtha was most recently head of institutional retirement, philanthropy and investments for Bank of America Merrill Lynch. Before that he was head of investment products for Merrill Lynch Wealth Management.

Charlotte, N.C.-based Bank of America Corp. acquired Merrill Lynch in January.