- Citigroup is creating a new top wealth management role in its US Consumer Bank and hiring Bank of America wealth executive David Poole for the job, Citi said on Tuesday.
- The newly formed role and choice to fill it with Poole is a sign Citi is looking to beef up its US wealth management services for Main Street clients.
- Analysts and other experts pointed to Poole’s digital prowess — he has overseen Merrill Lynch’s online brokerage and its self-directed and hybrid investing options.
- The bank is going after a coveted demographic, and one that rivals like JPMorgan and Goldman Sachs are going after with growing wealth services, too: the so-called mass-affluent client set.
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Citigroup is doubling down on plans to beef up its US wealth management services, creating a new top wealth role in its US Consumer Bank and hiring a Bank of