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Krawcheck Hires Top Lieutenant from Citi

By Lee Conrad
September 29, 2009
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Sallie Krawcheck has started to build her team as president of global wealth and investment management at Bank of America and she’s looked to her old stomping grounds.

She hired Andrew Sieg from Citigroup’s emerging affluent client segment to be head of global wealth and investment management retirement and philanthropic services, according to a press release from Bank of America. Sieg will report directly to Krawcheck, who also oversees Merrill Lynch, which was acquired by BofA last year in a controversial deal.

Sieg’s group will be responsible for personal retirement solutions and providing administration, recordkeeping, custodial, communications, consulting and execution services to business, organizations and their employees.

“Andy’s experience and enthusiasm make him a great addition to our team,” Krawchek said in the release. “Retirement and philanthropic servies is a critical business that is poised to capture an even larger market share.”

The appointment of Sieg brings him full circle to the company he joined in 1992 as an analyst in Merrill’s policy planning group. He worked his way up until he led Merrill’s New York International Complex, the firm’s flagship international private client office.