Citigroup is set to bring in Adam Clark as its head of wealth planning – Clark will join the financial services giant from JP Morgan, where he has served as global head of trusts and estates since 2016.
Prior to joining JP Morgan, Clark was a strategic wealth advisor and president of Goldman Sachs Trust Company.
The hiring was announced Friday in an internal Citi memo, which was seen by InvestmentNews. Clark will lead Citi’s global wealth planning team and report directly to Keith Glenfield, global head of investments at Citi Wealth. “With a distinguished, nearly 30-year career in banking, Adam brings deep expertise across tax, estate, trust, and wealth planning,” the memo said. “His extensive background will be a tremendous asset to our franchise as we continue to elevate our service and advisory capabilities for our UHNW clients globally.”
Clark will officially join Citi in November, following the completion of his garden leave, according to the memo, and will be based in New York.
Citi has been busy hiring – last month the company hired Matt Newnham to the asset manager relationship team for Citi Wealth. London-based Newnham joined Citi on July 6 and is serving as the managing director responsible for leading asset manager partnerships across Europe, the Middle East, Africa, and the U.K.
On this side of the Atlantic, the company recently appointed Michael Yannell as head of hedge funds for Investment Solutions.
Earlier this year, Citi forged a deal with wealthtech specialist Advyzon to build a unified account structure for clients across much of the globe.
When it reported fiscal second-quarter results last month, Citi’s wealth revenue grew 13% year-on-year to $3.2 billion, marking the ninth straight quarter of wealth revenue growth.
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