Citigroup Lands BlackRock Star Kate Moore as Wealth Chief

Citigroup (C) has announced the appointment of Kate Moore as the new chief investment officer (CIO) for its wealth division, effective from February. Moore transitions from BlackRock (BLK), where she held the position of portfolio manager and was the head of thematic strategy for the allocation business. This move was detailed in a memo to employees from Andy Sieg, head of Citigroup’s wealth division.

Kate Moore brings a wealth of experience to Citigroup, having previously served as the chief investment strategist for JPMorgan Chase’s (JPM) private bank. Her resume also includes significant roles at Merrill Lynch and Morgan Stanley (MS), showcasing her deep roots in the investment strategy sector across major financial institutions.

She steps into the role previously occupied by Steven Wieting, who has been acting as interim CIO since David Bailin’s departure last year. Moore’s appointment is seen as a strategic move for Citigroup, aiming to leverage her extensive experience in thematic investing and market strategy to enhance its offerings in the wealth management sector.

Moore’s background in managing portfolios and developing investment themes at one of the world’s largest asset managers, BlackRock, suggests she will bring a fresh perspective to Citigroup’s wealth division. Her expertise in navigating complex financial markets, combined with her strategic foresight in asset allocation, is expected to help in crafting investment solutions tailored to high-net-worth individuals.

The hiring of Moore reflects Citigroup’s commitment to strengthening its investment advice and client services, particularly at a time when personalized and innovative wealth management strategies are increasingly in demand. Her arrival is anticipated to signal a new era for Citigroup’s wealth division, focusing on growth and innovation in investment management.

h/t Reuters

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