Citi’s Family Office Head Hofmann to Leave in Latest Wealth Exit

Hannes Hofmann, the global head of Citigroup Inc.’s family office unit, is leaving about three years after his arrival, the latest in a series of leadership changes for the Wall Street giant’s wealth business.

Hofmann recently informed fellow executive Dawn Nordberg, Citi’s head of integrated client engagement, of his decision to leave the New York-based firm, according to an internal memo seen by Bloomberg News. The JPMorgan Chase & Co. veteran, who worked in Citigroup’s private bank, will continue to work closely with Nordberg’s team over the next few weeks to ensure a smooth transition, the memo said.