The FINANCIAL — Credit Suisse on June 2 announced that the leading team of Relationship Managers from Citigroup Global Wealth Management have joined the New York office of Private Banking USA.
The team is led by Managing Directors Richard S. Zinman and Anthony A. Dertouzos and will report to Matthew Gorman, Head of the New York office. Mr. Zinman has consistently ranked in the Top 10 of Financial Advisers in the U.S. according to Barron's annual survey, having placed 3rd in 2007. In the same year, On Wall Street magazine recognized Mr. Dertouzos as 6th in their annual ranking of "Top Advisers Under 40." The team is comprised of seven individuals.
"Credit Suisse's momentum in attracting the best talent in the US is truly extraordinary," said Anthony DeChellis, Head of Private Banking Americas. "This team is widely recognized in the industry for their exceptional ability to serve the complex needs of high-net worth and ultra-high net worth individuals. We are very excited to have them join our Credit Suisse team."
The Zinman/Dertouzos team's business is comprised of four areas: Risk Management, Trust & Estate and Transfer Planning, Asset Management and Customized Lending.
"Richard and Anthony are world-class professionals who, throughout this process, were quick to recognize our unique value proposition in the marketplace and the benefits to their clients of our integrated bank strategy," said Paul Simons, Co-Head of Private Banking USA.
"The boutique nature of Private Banking USA also means that their clients will have broad, direct access to Credit Suisse professionals," commented Peter Skoglund, Co-Head of Private Banking USA."
Mr. Zinman joined Citigroup in 2001, at which time he formed a team at Citigroup Global Markets Inc. dedicated to serving high-net worth clients. His primary responsibilities were to captain the team's asset allocation models, manager search and selection, performance measurement, tax and legal work, trust and estate planning, risk management, alternative investment knowledge and philanthropy.
Mr. Zinman has been working in financial services since 1982. Prior to Citigroup, he was a Managing Director at Banc of America Securities and spearheaded the firm's private client efforts in New York.
Mr. Zinman attended Duke University, where he graduated with a BA in Political Science.
Mr. Dertouzos began his career in Private Client Services at Banc of America Securities. As part of Mr. Zinman's team, he was responsible for advising high-net worth individual investors and families. In 2001, when the team moved its practice to Citigroup, Mr. Dertouzos became a Managing Director, Wealth Management, at Citi's Family Office. He has expertise in restricted stock, hedging and monetization strategies and wealth transfer analysis resulting from mergers, acquisitions, private liquidity events and the liquidation of closely held business interests.
Mr. Dertouzos received his MBA from New York University's Stern School of Business and graduated from the University of Massachusetts at Amherst.
Credit Suisse Private Banking USA combines the benefits of a boutique with access to professionals and product breadth of Credit Suisse, which is one of the world's leading private banks, a world class global firm with a 152 year heritage of serving the unique needs of wealthy individuals.
Private Banking USA operates out of 16 offices across the United States and works with a select number of wealthy individuals and family groups to provide a high degree of personalized service. Private Banking USA works closely with all areas of Credit Suisse, providing clients with many of the same resources and services offered to the Bank's largest and most sophisticated institutional investors.
Discussion about this post