BofA’s Krawcheck snares former Citigroup ’emerging’ wealth exec
Sallie Krawcheck has made one of her first key appointments as head of the global wealth management business at Bank of America Corp., hiring a former Citigroup Inc. wealth management executive to join her new team.
Sallie Krawcheck has made one of her first key appointments as head of the global wealth management business at Bank of America Corp., hiring a former Citigroup Inc. wealth management executive to join her new team.
Andrew Sieg, who had been the head of Citigroup’s emerging-affluent-client segment, was named a managing director and head of global wealth and investment management retirement and philanthropic services, according to an announcement from BofA this afternoon.
He will report directly to Ms. Krawcheck, according to the statement.
“Andy’s experience and enthusiasm make him a great addition to our team,” said Ms. Krawcheck in a statement. “Retirement and Philanthropic Services is a critical business that is poised to capture an even larger market share. Andy and his team will continue to build upon this foundation as we strengthen our offerings across the platform to better serve all of our client segments.”
For Mr. Sieg, the new position allows him to return to his Merrill Lynch roots, where he’d spent about 12 years of his career. Before joining Citigroup in 2005, Mr. Sieg was the head of Merrill Lynch & Co. Inc.’s international private client office.
It also allows him to reunite with Ms. Krawcheck, who was the head of Citigroup’s Smith Barney brokerage business until late 2008.
Mr. Sieg left Citigroup/Smith Barney in August, according to a spokesman.
Bank of America acquired Merrill Lynch earlier this year.
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