Citigroup has announced the appointment of Kate Moore as the new Chief Investment Officer (CIO) for its Wealth Division. Moore, who is expected to join the company in February, will succeed Steven Wieting, who had been serving as interim CIO following the resignation of David Bailin last year.
Moore joins Citigroup from BlackRock, where she held the role of portfolio manager and led thematic strategy for the firm’s allocation business. Her career has spanned significant leadership positions at several prestigious financial institutions. Notably, she was Chief Investment Strategist at JPMorgan Chase’s private bank and has also worked at Merrill Lynch and Morgan Stanley. Her wealth of experience and track record in investment management positions her well to lead Citigroup’s Wealth Division as it continues to grow and evolve.
In a memo to employees, Andy Sieg, the head of Citigroup’s Wealth Division, highlighted Moore’s extensive expertise and leadership in shaping successful investment strategies. He expressed confidence that she would bring valuable insight and direction to the division as it navigates the complexities of global markets and continues to serve its high-net-worth clients.
About Citigroup
Citigroup is one of the world’s largest financial institutions, ranking as the third-largest bank in the United States by assets. Alongside other major banks such as JPMorgan Chase, Bank of America, and Wells Fargo, it forms part of the Big Four U.S. banking institutions. The bank is considered “too big to fail” by the Financial Stability Board, a designation that highlights its systemic importance to the global financial system.
Citigroup is also one of the eight global investment banks that make up the prestigious Bulge Bracket, providing top-tier services in investment banking, securities, and wealth management. The bank ranks 36th on the Fortune 500 and was listed at number 24 in the 2023 Forbes Global 2000.
The bank operates two primary divisions: the Institutional Clients Group (ICG), which covers a wide range of services including investment and corporate banking, as well as treasury and trade solutions and securities services; and the Personal Banking and Wealth Management (PBWM) division. The PBWM division includes Citibank, a major retail bank, and is the third-largest issuer of credit cards in the U.S. Additionally, it encompasses Citigroup’s wealth management business, which Moore will oversee.
