In a statement, Citigroup Inc said, it has created a single wealth management business called Citi global wealth to deliver its products and services to clients, including ultra-high net worth individuals.

The newly formed unit, formed by combining wealth management teams in global consumer banking and the institutional clients group, will be led by Jim O’Donnell and will include the Citi private bank and Citi personal wealth management.

Prior to his appointment to the new role, O’Donnell served as the global head of investor sales and relationship management. He joined Citi in July 1999.

Citigroup is lasted to get a new chief executive officer later next month in February with Jane Fraser set to take over from Michael Corbat.

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