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Citigroup wealth executive hired from BofA leaves after months, source says

Tatiana Bautzer
·1-min read
FILE PHOTO: The Citigroup Inc logo is seen at the SIBOS banking and financial conference in Toronto

By Tatiana Bautzer

NEW YORK (Reuters) - A Citigroup executive who joined the bank from Bank of America in April is leaving Citi, one source with knowledge of the matter said on Tuesday.

Don Plaus, named head of North America for Citi's private bank, said last week he was leaving for personal reasons, the source added, requesting anonymity to discuss personnel matters.

Barron's was the first to report his exit. Plaus had joined Citi after retiring from a three-decade career at Bank of America's Merrill Lynch. Citigroup declined to comment and Plaus did not reply to requests for comment.

Plaus was hired by Andy Sieg, Citi's new head of wealth since last year. They had worked together at Bank of America.

Wealth management is a key growth area in CEO Jane Fraser's plan for improving Citigroup profitability.

(Reporting by Tatiana Bautzer; editing by Jonathan Oatis)