Citi Private Bank has named John Woods as chief investment strategist for Asia Pacific.

Woods brings 20 years of investment management experience to his new role. Prior to Citi Private Bank, he was a partner at Lincoln Vale LLP, an alternative asset management firm with a focus on Asian equity and fixed income. He also previously served as portfolio manager at RAB Capital trading currencies.

In his new role, Woods will be based in Hong Kong and will report jointly to Richard Cookson, the global chief investment officer, and Debashish Dutta Gupta, the Asia Pacific head of investments.

"We are focused on expanding our scope of services to clients, including broadening our investment research and strategy capabilities, and John's appointment is a key step in that direction," Dutta Gupta said in a statement.

Citi Private Bank has renewed its focus toward the ultra wealthy since it sold a majority stake in Smith Barney to a joint venture with Morgan Stanley in 2009. The bank is now looking to hire around 300 private bankers to bulk up its stable, mainly in the US and in Asia, over the next three years.