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Headline: Banking Shuffles: Bessent at Treasury,Whose Turn at Citi UK Private Bank?
Let's dive into the latest moves in the bustling world of finance!
FN Team
Thursday, May 15, 2025 (7 p.m. ET)
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Scott Bessent, a finance and investment powerhouse, currently grabs the spotlight as U.S. Treasury Secretary. However, contrary to rumors, Bessent doesn't have a past stint at Bank of America, according to our research[3][5][1].
On the flip side, Citigroup's UK private banking division seems to be seeing changes too, but the identity of the incoming boss remains elusive, as no sourced reports have named or confirmed an individual[2][3][5].
Additional Insights
- Perhaps the most surprising element in the finance world this week is that Scott Bessent, despite his rising influence, has no background with Bank of America.
- As the questions about Citigroup's UK private banking changes continue to swirl, many are left guessing who might take the helm at this esteemed division.
In the ever-changing world of finance, Scott Bessent, now the U.S. Treasury Secretary, has never held a position at Bank of America, contrary to rumors. Meanwhile, the impending changes at Citigroup's UK private banking division have left business circles speculating about the potential new recruit, as no definitive name has emerged yet.
