Former Sanlam CEO Penny Lovell (pictured) has been announced as managing director for Citi Private Bank.
She left Sanlam in February 2022 shortly before the firm’s sale to Oaktree Capital Management completed. According to Linkedin, Lovell began her new role at Citi Private Bank in July.
Prior to Sanlam, Lovell was managing director at Close Brothers Asset Management between 2012 and 2017, having held the same role at Rothschild Asset Management from 2009.
On Linkedin, Lovell said: “As a life-long devotee of excellent client service and world-class investment advice, I am delighted to have joined Citi and to be leading a team of incredibly talented individuals who are dedicated to doing the best for our clients every single day.
“We are all equally passionate about fulfilling our clients’ requests while also developing a depth of understanding that allows us to anticipate their needs and to introduce them to products and services that will bring benefits they haven’t yet thought of.”