Citi Private Bank has appointed Roger Bacon as head of investments for Asia Pacific and Adam Proctor as head of managed investments and advisory for Asia Pacific. Both are internal appointments.
Mr Bacon will lead the Asia Pacific investments business for the private bank, including asset allocation, product advice and execution across capital markets and managed investments. His predecessor So-Yon Sohn has moved to a new role in global markets and investor sales within Citi.
In his new role, Mr Bacon will report to global head of investments for Citi Private Bank Eduardo Martinez Campos and Asia Pacific chief executive of Citi Private Bank Bassam Salem, and will be based in Hong Kong. Most recently, Mr Bacon was head of managed investments and advisory for Asia Pacific since 2010, where he oversaw the build-out of all product-based, portfolio management and advisory solutions in the region.
Prior to this, he was head of the hedge fund business with Union Bancaire Privée in London and has held roles within the Rothschild Family Office and JP Morgan Fleming Asset Management.
Meanwhile, Mr Proctor takes the position of head of managed investments and advisory for Asia Pacific reporting to Mr Bacon and global head of managed investments David Bailin. He is to relocate to Singapore over the next few months.
Mr Proctor was most recently the global market manager of the global client program, where he led improvements in the performance and profile of the program, and a senior private banker in London. He joined Citi Private Bank in 2008 as a private banker and became the UK banker team leader for ultra high net worth clients in 2012. Previously, he was with Barclays Private Bank in London and Bristol.
Mr Salem said: “Roger and Adam are both experienced private bankers with strong track record of achieving excellence. They will bring significant value, experience and synergy to our Asia Pacific business and continue enhancing our capabilities and expertise to be the best provider of investments products and solutions for our clients.”
Citi Private Bank has approximately $390 billion in global assets under management and operates from 48 offices in 16 countries, serving clients across 139 countries. The firm offers clients products and services which cover capital markets, managed investments, portfolio management, trust and estate planning, investment finance, banking and aircraft finance and art and sports advisory and finance.