Citi Private Bank has snagged a senior banker from rival JP Morgan Private Bank to lead the firm’s expansion in South Florida.  Luke Palacio will join Citi Private Bank as managing director and regional market manager for the South East region on March 18 and will report to Paul Hubert, global market manager for the Eastern region.  He will be based in Miami, the firm announced Monday.

In his new role, Palacio will look to expand the firm’s presence throughout South Florida beyond the key locations of Miami, Boca Raton and Palm Beach. He will also undertake a strategic focus on ultra-high-net-worth Latin American clients based in North America. In addition, he will support the expansion of Citi Private Bank’s Ultra High-Net-Worth Group across Latin American markets such as Chile, Argentina, Peru and Colombia, the bank said.

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