Citi Private Bank has announced the appointment of Teresa Radzinski as a senior private banker based in Jacksonville, Florida, marking a significant addition to the institution’s rapidly expanding ultra-high-net-worth (UHNW) wealth management division. In her new role, Radzinski will leverage her extensive three-decade career in financial services to manage relationships with some of the wealthiest individuals, families, and complex family offices in the region, focusing specifically on clients with balance sheets exceeding $500m.
The high-profile hire underscores Citi Private Bank’s aggressive recruitment strategy aimed at capturing a larger share of the lucrative domestic wealth market. By targeting seasoned advisors with deep institutional backgrounds, the bank continues to position itself as a dominant force in ultra-high-net-worth wealth advisory, catering to the sophisticated needs of clients who require bespoke financial solutions, capital markets access, and complex estate planning.
A Distinguished Career Across Wealth Management and Capital Markets
Teresa Radzinski brings more than 35 years of multifaceted financial experience to Citi Private Bank, spanning the domains of wealth management, capital markets, and corporate finance. Her professional journey is characterized by leadership roles catering to ultra-high-net-worth private clients, institutional investors, and prominent nonprofit entities.
Before transitioning to Citi, Radzinski served as a managing director and private client and institutional advisor at Bank of America Private Bank. During her tenure there, she cultivated deep expertise in advising wealthy families, private foundations, faith-based organizations, and higher-level educational institutions on intricate wealth planning matters, asset allocation, and philanthropic strategies.
Prior to her work at Bank of America Private Bank, Radzinski held critical leadership roles within the investment banking arm of the institution. Notably, she served as managing director and co-head of financial institutions capital markets and financing at Bank of America Merrill Lynch. In this capacity, she managed complex financing transactions, advised major financial institutions on capital structure, and navigated evolving regulatory and market landscapes.
Her comprehensive background extends far beyond traditional relationship management, encompassing specialized knowledge in private banking, investment strategy, institutional advisory, fiduciary services, and corporate board governance. This diverse skill set enables her to address the multifaceted challenges faced by families and institutions managing immense balance sheets.
Beyond her corporate executive career, Radzinski maintains an active leadership profile within the non-profit and educational sectors in Florida. She currently serves as the board chair of the Kearney Center/CESC and the Lightner Museum, while also contributing her governance expertise as a board trustee of Flagler College. Her deep community roots in Florida make her an ideal fit for Jacksonville’s growing financial hub.
Broader Expansion and Strategic Leadership Appointments at Citi Wealth
Radzinski’s arrival in Jacksonville is not an isolated event; rather, it forms a core component of a broader, sustained talent acquisition and leadership restructuring initiative across Citi Wealth in recent weeks. As global wealth creation accelerates and client demands become increasingly complex, Citigroup has actively reinforced its operational leadership team with top-tier talent.
Last month, Citigroup announced the appointment of Adam Clark to lead its wealth planning division. Clark is slated to step into the role in November following the completion of his garden leave, operating out of the firm’s New York headquarters. He steps in to permanent leadership after Mike Troth had been guiding the division on an interim basis. Clark’s arrival signals Citi’s commitment to providing comprehensive, holistic wealth planning services that integrate tax mitigation, business succession, and generational wealth transfer strategies for its clientele.
In a parallel move designed to streamline client engagement and product delivery, Citi Wealth appointed Alex Kokolis as the head of investments platform experience last month. In this capacity, Kokolis collaborates closely with investment product teams, wealth intelligence units, and client segment leaders to refine and elevate the digital and advisory experience across the bank’s proprietary investment platforms.
Furthermore, Citi Wealth recently welcomed Elizabeth McElherne as the head of AIMS (Alternatives and Investment Manager Solutions) platform management. McElherne’s appointment represents a strategic expansion of Citi’s alternatives leadership team, reflecting the surging demand among ultra-high-net-worth clients for private equity, private credit, real estate, and hedge fund allocations amid volatile public market conditions.
The Evolving Landscape of Ultra-High-Net-Worth Banking in Florida
The decision to station Radzinski in Jacksonville highlights the strategic importance of Florida as a primary domestic wealth migration hub. Over the past several years, the state has experienced an unprecedented influx of high-net-worth individuals, entrepreneurs, and family offices relocating from traditional financial centers such as New York, Connecticut, and California. Factors driving this migration include favorable tax policies, a pro-business regulatory environment, and a high quality of life.
Financial institutions have responded by aggressively expanding their physical footprints and advisory talent pools across key Florida markets, including Miami, Palm Beach, Naples, and Jacksonville. By placing a seasoned UHNW advisor like Radzinski in Jacksonville, Citi Private Bank ensures it has localized expertise on the ground to capture the capital of generational wealth holders, successful founders, and institutional endowments establishing operations in the region.
Serving Families and Family Offices Above $500m
Managing balance sheets exceeding $500 million requires an institutional-grade suite of capabilities that traditional retail or standard affluent banking models cannot adequately provide. Clients at this echelon typically operate akin to corporate entities, requiring sophisticated credit facilities, tailored liquidity solutions, cross-border tax structuring, concentrated stock risk management, and philanthropic governance.
Family offices representing fortunes of this magnitude often necessitate dedicated resources for direct private equity deal sourcing, co-investments, operational risk management, and multi-generational education. Radzinski’s extensive background in both private client advisory and institutional capital markets uniquely positions her to bridge the gap between private wealth management and institutional-level corporate finance. Her familiarity with complex financial architectures allows her to architect bespoke solutions for clients whose balance sheets span diverse asset classes, operating businesses, and philanthropic ventures.
Market Implications and Competitive Positioning for Citi
The ongoing expansion of Citi Wealth highlights the strategic imperatives facing global universal banks as they vie for fee-based wealth management revenue. Wealth management and private banking divisions are increasingly viewed by major financial institutions as vital drivers of stable, recurring revenues that are less susceptible to the cyclical volatility typical of investment banking and trading divisions.
By systematically recruiting high-caliber talent from rival institutions—such as Radzinski’s transition from Bank of America Private Bank—Citi is signaling its aggressive intent to gain market share in the ultra-high-net-worth segment. The firm’s holistic approach, which pairs seasoned relationship managers like Radzinski with specialized divisional heads in wealth planning, alternative investments, and platform experience, creates a comprehensive ecosystem designed to retain and grow multi-generational family wealth.
As macroeconomic uncertainties, shifting tax landscapes, and geopolitical complexities continue to shape the global financial environment, ultra-high-net-worth clients and family offices are increasingly seeking trusted advisors with cross-disciplinary expertise. With Radzinski anchoring its Jacksonville presence and a slate of new leaders taking charge across key operational desks, Citi Private Bank is positioning itself to navigate these complexities alongside its most demanding clients, reinforcing its reputation as a premier destination for global wealth advisory.
