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Alternative Market Briefing

Citi Private Bank office in Greenwich, CT to target hedge fund and alternative investments community

Monday, March 10, 2014

Komfie Manalo, Opalesque Asia:

Citigroup named Keith Gertsen managing director and team leader of its Citi Private Bank in Greenwich, with one main task Ė to persuade some of the biggest hedge fund players to entrust their personal money with Citi. Citi Private Bank is the wealth-management wing of Citigroup that caters "ultra-high-net-worth" clients with investable assets of at least $25m.

And Gertsen has chosen his office well. He occupies an office at the second floor on Steamboat Road across Greenwich Harbor very near Bell Haven where three of Connecticutís billionaires reside.

"It's commonly believed, and certainly in our research, that about 75 to 80 percent of the world's hedge fund assets are managed in a 60-mile radius of New York City," Gertsen told the Stamford Advocate.

Next to his office is the $2bn Blue Harbour Group, Stephen Mendel, the founder of Lone Pine Capital with a personal net worth of $2.1bn is just a stroll up from Steamboat and Andreas Halvorsen, founder of Viking Global Investor and who Forbes magazine listed as someone worth $2.3bn, is also nearby.

Peter Charrington, CEO of Citi Private Bank, North America was quoted as saying in an email, "The work Keith's group is doing in Greenwich -- as well as in markets like Boston and Florida and Texas -- is also critical to our strategy to deep......................

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