Citigroup's (C) Private Bank hired Teresa Radzinski from Bank of America to strengthen relationships with ultra-high-net-worth clients, Reuters reported Wednesday, citing an internal memo.

Radzinski was a managing director at Bank of America's (BAC) private bank, advising families, private foundations, universities and faith-based organizations, according to the report.

Based in Jacksonville, Florida, Radzinski will focus on clients with more than $500 million in net worth, Reuters said.

Citigroup did not immediately respond to MT Newswires' request for comment.

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