Ex-Citi Wealth Management Executive to Buy Small Argentine Bank

Eduardo Savastano , a former veteran in Citigroup Inc.’s wealth management division, is preparing to acquire almost all of Banco Masventas, a small regional bank in northern Argentina, according to a person with direct knowledge.

The transaction has already been submitted to Argentina’s central bank, according to the person, who asked not to be named discussing an ongoing transaction. The deal is expected to involve around 90% of the company, although the amount paid for the acquisition remains undisclosed, he said.