Citi names Richard Cookson CIO of Private Bank

AP News
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Posted: Dec 03, 2009 10:55 AM

Citi on Thursday tapped two industry veterans to join the leadership of Citi Private Bank.

Richard Cookson was named chief investment officer for the unit that serves high-net-worth individuals. Alex Godwin was picked as global head of asset allocation.

Cookson will be responsible for shaping investment strategy. He most recently worked as managing director and global head of asset allocation research for HSBC, and previously worked at The Economist magazine.

Godwin, who will report to Cookson, will be responsible for guiding asset allocation and communicating investment themes to clients. He most recently worked as head of portfolio analysis for the Swiss private bank Lombard Odier. He previously held a similar post at Morgan Stanley Private Wealth Management.

Citi shares slipped 2 cents to $4.08 in morning trading.