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Citigroup Inc's hiring of Andy Sieg, the incoming head of its wealth management unit, underscores the lender's ambitions in the business as well as the uphill climb it faces in gaining share in a competitive market.
Though revenue growth remains a challenge, Citigroup is still committed to its global wealth management expansion plan, CEO Jane Fraser said Friday. Andy Sieg is joining the bank from Merrill Lynch in September as head of global wealth management.
Citigroup Inc's hiring of Andy Sieg, the incoming head of its wealth management unit, underscores the lender's ambitions in the business as well as the uphill climb it faces in gaining share in a
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Although the new leaders at Merrill could offer advisors new hopes, the firm could well suffer further attrition after Andy Sieg's defection last week to Citigroup.