Kate Moore is Citi Wealth's new chief investment officer, according to a letter from Chief Wealth Officer Andy Sieg to Citi Wealth employees. She joins from BlackRock and will start in the new role in February.
According to Sieg, Moore will have “broad responsibilities” at the firm, including leading the development and delivery of independent investment strategies for clients and advisors and overseeing the firm's Chief Investment Office, Global Investment Committee and investment team stable.
“I am confident that she will be an excellent representative for Citi Wealth as we serve world changers in their quest to create wealth,” Sieg said in his letter to the firm's employees.
She will take over the role from Steven Wieting, who has been acting as interim CIO for six months. He replaces David Balin, who announced his departure as CIO in May (he had held the position since 2019). Wieting is remaining in his role as chief investment strategist and economist on the CIO team.
Before moving to Citi, Moore was a portfolio manager at BlackRock and head of thematic strategy for the company's $50 billion Global Allocation business, a role she has held since 2019 (she joined BlackRock in 2016). She was also chief investment strategist for JP Morgan's Private Bank and held senior roles at Bank of America Merrill Lynch and Morgan Stanley.
“She is a widely respected industry thought leader with expertise from asset allocation to thematic investing to equity research,” Sieg wrote.
Citi Estate hired former JP Morgan executive Eric Lordi a few weeks ago to lead its digital division starting January 29, 2025. As head of its wealth platform and experience, Lordi will oversee the development and delivery of Citi Wealth's digital experiences for clients, advisors and bankers.
Citigold too recently launched a new loan and bonus program for $1 million + financial advisor talent; executives are confident that advisors at its 641 bank branches can benefit from referrals from relationship managers who serve only the bank's affluent customers who need more help. Moreover, in June, former head of strategic client management at Morgan Stanley, Dawn Nordberg left to lead a new client engagement program at Citi Wealth.
The changes in personnel and priorities are the latest in a series of changes following Sieg taking the reins of the lead role at Citi Wealth in March 2023. He joined from Merrill, where he was head of wire wealth management for six years.