Will Andy Sieg Lead Citi as CEO by Revamping Wealth Business?

Money | June 17, 2024, 10:04 a.m.

Andy Sieg, the former face of Merrill Wealth Management, shocked the finance industry by making a bold move to Citigroup's wealth division. While this decision seemed terrifying to some, insiders believe Sieg has his sights set on becoming the CEO of Citi, a goal that seemed unattainable at Bank of America. His task at Citi is monumental, as he aims to overhaul a struggling unit with ambitious targets. Sieg's plan involves cultural shifts, leadership changes, and a focus on investment products to drive growth. Despite numerous departures and technology challenges, Sieg remains confident in his ability to make Citi Wealth the top player in the industry. While his success is uncertain, many employees view him as their last great hope for transforming the business. Sieg's strategic moves, leadership style, and ambitious goals are closely watched as he navigates the complex world of wealth management at Citi.