Citi has recruited an industry veteran and former investing leader from BlackRock in the latest move to breathe life into its wealth business.
In an internal announcement, Andy Sieg, the company's head of wealth management, announced that Kate Moore has been appointed as Citi Wealth's new chief investment officer.
Most recently before Citi, Moore was a portfolio manager and head of thematic strategy for BlackRock’s $50 billion Global Allocation business, where she leveraged her extensive experience in asset allocation, thematic investment, and equity analysis.
“Citi Wealth is in an extraordinary position to help investors navigate increasingly complex markets as no other firm can,” Sieg, who left Merrill Lynch to lead Citi's global wealth unit last year, said in his announcement. “Kate is a widely respected industry thought leader with expertise from asset allocation to thematic investing to equity research.”
A sought-after commentator, Moore also sits on multiple boards, including the Investment Committee for the Robinhood Foundation.
In her new role, Sieg said Moore will oversee Citi Wealth’s Chief Investment Office, Global Investment Committee, Investment Lab, and sustainable investing team. She will also lead efforts to develop and deliver independent investment strategies for clients, advisors, and other professionals across the business.
Moore originally joined BlackRock in 2016 as chief equity strategist for the BlackRock Investment Institute before transitioning to the Global Allocation team in 2019. She also founded and served as the executive sponsor for BlackRock’s Women in Investments group.
Prior to BlackRock, her career included a years-long stint as chief investment strategist for JPMorgan’s private bank and senior positions at Bank of America Merrill Lynch, Moore Capital, and Morgan Stanley.
Sieg also thanked Steven Wieting, who has been serving as interim CIO at Citi Wealth for the past six months. He filled the void left by David Bailin, who served as CIO at Citi's wealth arm from 2019 until his departure in May this year.
“We’re delighted that [Steven] will continue in his role as chief investment strategist and economist within the CIO organization,” Sieg said.
Moore will be taking on the CIO role at Citi Wealth in February.
Saba pushed; the justices pushed back - and the SEC keeps the gavel.
Two restrictive covenants gone in one ruling - and the drafting flaw is everywhere.
Clients' everyday realities, anxieties, and aspirations naturally change as they go up the wealth scale – and that has profound implications for advisors helping them find what "enough" really means.
The RIA technology giant's new office features a fitness center, café and outdoor community spaces, including a beehive, picnic area and herb garden for over 100 employees.
Liquidity risk overtakes access as the top concern for E&Fs as private markets dominate portfolios.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
