Direct private investing has been one of the hot themes and trends in the world's wealth management sector over recent years, as regularly reported by this publication.

Citi Private Bank has appointed Itay Blasenheim as global head of direct private investments, holding the post of managing director and based in New York. The post is newly-created, a spokesperson told Family Wealth Report when asked about the position.

In his new role, Blasenheim will report to David Bailin, chief investment officer, according to a memo.

The memo said that “direct private investments is a critical program in our drive to capture and deepen our client relationships with substantial institutional wallet”. 

“This initial effort has clearly demonstrated the client demand within our existing client base. With dedicated resourcing we will aim to originate approved deal flow that meets distinct client demand by sector, industry or where appropriate business,” Citi Private Bank said.

Previously, Blasenheim was MD of JP Morgan Private Bank where he was responsible for building and running Morgan Private Ventures, the direct deals and co-investments platform of the private bank. He was also a partner in JP Morgan’s Junius Real Estate Partners, and helped build Highbridge and Gavea. Prior to joining JP Morgan, he was an attorney at Kirkland & Ellis, as well as at Debevoise & Plimpton. Blasenheim, who has been involved in various health and wellness related ventures, is an advisory board member of Sakara Life, a member of Caravan Wellness, and has served on the board of directors for the UJA Federation.

There is a clear trend of direct investing interest in the wealth management sector. For example, see this article.