In 2017, Bailin was appointed global head of investments, and he started his present position in 2019. He oversaw Bank of America’s global wealth and investment management as head of alternative investment asset management prior to joining Citi.
David Bailin, the chief investment officer (CIO) of Citigroup’s global wealth division, announced on Monday via LinkedIn that he will be leaving the bank on May 15th, following 15 years of employment.
In 2017, Bailin was appointed global head of investments, and he started his present position in 2019. He oversaw Bank of America’s global wealth and investment management as head of alternative investment asset management prior to joining Citi.
The head of the wealth management division, Andy Sieg, stated in a memo obtained by Reuters that Bailin will seek a new opportunity, without providing further details.
Sieg said that Steven Wieting, chief economist and investment strategist, will take over as interim CIO while Citi looks for a long-term replacement.
One important component of CEO Jane Fraser’s September announcement reorganization strategy to boost profitability is wealth. The majority of Citi’s planned layoffs were finished by the end of the first quarter, the company announced on Friday.
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