Citi has appointed Michael Yannell as head of hedge funds for investment solutions within its wealth division, as the bank continues to expand its alternatives platform and strengthen its hedge fund offering, according to a report by Citywire.
Yannell, who had been serving as interim head of the business, will oversee hedge fund origination, due diligence, structuring and manager oversight. He will report to Daniel O’Donnell, Citi’s head of alternatives and investment manager solutions.
The appointment highlights growing competition among global banks to capture demand for alternative investments, with hedge funds becoming an increasingly important allocation for private wealth clients.
Citi has been investing in its wealth division as it seeks to expand its alternatives capabilities, with hedge funds, private markets and other non-traditional assets becoming key growth areas.
Yannell rejoined Citi in 2019 as head of hedge fund research after previous roles at alternatives-focused investment firms and financial institutions.
