Citi Private Bank LatAm investment specialist exits

Citi Private Bank Latin American investment specialist Alejandro Gerstl has left the firm after seven years.

New York-based Gerstl was a vice president on the private bank’s cross-asset advisory team covering Latin America, where he focused on generating investment ideas for institutional and ultra-high net worth clients across the region.

A Citi spokesperson confirmed his departure to Citywire Americas. It is understood he is joining another group but no additional details were available at the time of publication.

Gerstl joined Citi Private Bank in April 2014 as an investment counselor within its Geneva, Switzerland-based team before relocating to New York in 2018 to work in its cross-asset advisory unit, according to his LinkedIn profile.

In January, Citi unveiled it was restructuring its global wealth management business, combining its private banking and wealth management business lines into a single global unit simply named Citi Global Wealth.

The firm followed in the footsteps of other large groups like Credit Suisse and UBS, which similarly reorganized their respective wealth management businesses last year as part of a larger trend among global banks to cut down on costs.

Citi also announced to its employees last month that, as part of the restructure, Jim O’Donnell, previously Citi’s global head of investor sales and relationship management, would lead the new Global Wealth unit.