Citi Private Bank hires two Barclays Wealth executives

Citigroup Inc's private bank unit has hired two senior Barclays Wealth advisers to help expand its high net worth business across more US cities.Michael Smith will be the bank's Midwest regional executive, and Mark Connally will lead the bank's Southwest region, Citi said on Monday. Citi's private bank focuses on individuals with net worth of at least $25 million.Smith, based in Chicago, was head of the Midwest region for Barclays Wealth, a unit of Barclays Plc that also targets the ultra-wealthy.Before that, he was Midwest regional manager for Lehman Brothers' private investment management business and also a principal at Morgan Stanley. Barclays acquired Lehman's banking and wealth management businesses out of bankruptcy in September 2008.Connally, to be based in Dallas, was formerly Barclays' Southwest regional manager. Prior to that, he was a regional manager for Lehman and a regional development manager for Prudential Securities.Smith and Connally will work as managing directors and report to Citi Private Bank chief executive Peter Charrington.