Americas Wealth Markets Head - C16

The AmericasWealth Markets (WM) Head will be responsible for formulating and executing a strategy that maintains and further expands a leading position across all capital markets products with our Wealth clients in North America and Latin America (NAM and LATAM). Key areas of focus will be on ensuring we provide best-in-class markets access, advisory and execution capabilities across all capital markets asset classes, building stronger connectivity between Wealth, Institutional Markets, and Banking, and establishing a suitable coverage model for all types of clients across all asset classes.  

The successful candidate will manage a team of approximately 40 professionals and work with multiple partners across Wealth (i.e. Financial Advisors, Bankers, Investment Counselors and Control Functions), as well as in Markets (i.e. Sales and Trading desks across all asset classes and the Multi-Asset Group). The candidate should also have good connectivity to Banking.

The ideal candidate should also have proven success in business development and capital markets product management, knowledge of the Ultra High Net Worth, High Net Worth and Mass Affluent client segments, understanding of securities rules and regulations relevant to Wealth clients, and demonstrate a successful track record of leadership and execution. The role requires strong analytical and quantitative skills and a strategic approach to delivering flow, derivatives, and structured products to our clients, focusing on bringing the most appropriate opportunities to the right client segments, and an overall excellent client experience.

The role will report directly to the Global Head of Wealth Markets.  The position will be based in New York and will require a significant amount of travel within the region. The Americas Heads of Wealth Markets Products (Equities, Foreign Exchange & Commodities, OTC Derivatives, and Structured Products) will have a sole line of reporting into this role. Additionally, WM Business Execution will have a matrix line of reporting into this role and a direct line of reporting into the Global Wealth Markets COO.

Key Responsibilities Include (but are not limited to):

1. Business Development:

• Develop a coordinated business strategy across all capital markets products to deliver the full range of proprietary and non-proprietary products and solutions to our Wealth target market clients. 
  • From a flow and structured products perspective, ensure that the WM teams have access to and service from all relevant Markets desks as well as access to the right levels of access to 3rd-party execution where appropriate.
  • Work on identifying opportunities for clients with the Banking groups in each region.
  • Help develop strong relationships between the WM Product Heads and the relevant Markets Trading Desk Heads
• Develop a process of target market vetting with the Regional Markets Sales Head to ensure:
  • Retail and Institutional clients are properly identified and serviced through the appropriate platform
  • Two-way referrals of clients
• Extensive interaction with our Markets product partners to identify opportunities for our clients.
• Partner with the broader Citi to deliver on a successful solutions business with our clients.
• Provide strategic leadership for the WM team.

2. Business Initiatives Strategy:

• Assist WM Product Heads in refining product initiatives and coordinating business strategies across products.
• Drive strategic initiatives and activities to maximize growth in WM
• Work with coverage partners and WM Product Heads to continually review and refresh the client coverage needs to optimize the client experience
  • Identification of clients who would benefit from up-tiering
  • Continued review of Citi Private Bank Direct-to-Desk clients from a suitability perspective
  • Continued review, identification, and on-boarding of Market-Direct-Access clients

• Work to develop globally consistent metrics to evaluate performance of both individuals and teams in each product area
• Work with HR and Business Execution to implement appropriate scorecard metrics
• Work with Investment Finance and Risk to drive the right processes for LVs, ISDA approvals, Trading Lines Approvals, etc.
• Protect our clients and the franchise through a relentless commitment to control and governance built on the highest standard of personal ethics and responsibility.

3. Product Development and Platform:

• Ensure that all Wealth platform capabilities and market access of our WM Team are effective and allow us to favorably compete within our target market
• Provide leadership and support in the identification, design, approval, training and successful implementation of new products or variations
  • Responsible for the NAC processes
  • Own and coordinate the multiple projects required to drive business efficiency and client experience
• Ongoing ownership of the WM Product Programs, ensuring timely approval renewals and updates
• Develop close working relationship with all key control functions to ensure strong governance and controls while continuously addressing any shortcomings or pain-points in our capacity to operate and service clients effectively by providing the best experience
• Ownership of technology budget, strategy, and implementation, driving Tech partners to deliver business-directed goals

4. Management Reporting:

• Work closely with Finance to ensure accurate reporting of the WM business
  • Management reporting such as MBR’s and WM Reviews
  • Periodic Revenue Outlook forecasts
  • Budgeting/planning
  • Expense management

        5. Human Capital Management:

• Work closely with Coverage, WM Product Heads and HR to drive the WM people strategy
  • Ensure the people strategy and organizational capabilities are aligned to the business strategy
  • Mid-year and Year-end appraisal processes; compensation
  • Graduate recruitment, training, and other related processes.
  • Adhere to and cascade all supervisory training and tools to create a culture of responsibility encompassing our clients, our shareholders and each other.

Experience, skills and capabilities:

• In depth experience of markets products across all asset classes, specifically for retail clients
• In depth experience in Hedging and Monetization strategies and solutions

• Successful understanding and leadership of a multi-product business
• Strong intellectual grasp of the industry and with the ability to anticipate and lead the organizational response to future changes.
• Ability to translate vision into executable plans.
• Excellent interpersonal and communication skills.
• Credibility and gravitas to build, lead, and motivate across products and matrix reporting lines.
• Superior problem-solving skills; pragmatic approach to ensure limited resources are directed appropriately
• Series 7, 24, 66 (can be 63 + 65) licenses required; Series 31 or 3 (3 is preferred) license required; SIE license required.
• Bachelor’s degree in business, finance, economics, engineering or a related field required.

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In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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Anticipated Posting Close Date:

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