Kate Moore was named CIO at Citigroup's wealth business, joining the firm from BlackRock’s $50 billion global allocation business.
Moore will start in February, according to an internal memo signed by Andy Sieg, Citi's head of wealth, and seen by Pensions & Investments. Steven Wieting, chief investment strategist and economist within Citi’s CIO organization, had been interim CIO for the wealth unit.
She will have broad responsibilities for leading the development and delivery of independent investment strategies for clients, advisers and other professionals. She will also oversee the chief investment office, the global investment committee, the Citi Wealth Investment Lab — a team that provides institutional-like analytics to wealth clients, and the sustainable investing team.
Moore was a managing director and portfolio manager at BlackRock, and head of thematic strategy for the money management giant’s $50 billion global allocation business, the memo said. She was responsible for identifying opportunities to exploit structural change, the evolution of policy and dislocations across global industries, according to her official biography on BlackRock’s website. She joined BlackRock in June 2016 as chief equity strategist for the BlackRock Investment Institute. BlackRock has $11.48 trillion in assets under management.
“She is a widely respected industry thought leader with expertise from asset allocation to thematic investing to equity research,” Sieg wrote in the memo.
Dez Desai, a member of the office of the CIO within BlackRock's fundamental fixed-income group, will succeed Moore as the global allocation team's head of thematic strategy, a BlackRock spokesperson confirmed.
