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☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 11 senior execs have left since his arrival.
▼ + stars: | 2024-04-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Citi's wealth unit has seen at least 11 senior execs exit since Merrill Lynch veteran Sieg joined in September. The latest departure is David Bailin, chief investment officer for the global wealth division, who announced his departure on Monday. Sieg's mandate is to turn around the wealth business, which was barely profitable this past quarter. Sieg also plans to expand Citi's already successful wealth business in Asia. At least two other senior Asia executives have left.

Persons: Andy Sieg, Merrill Lynch, Sieg, David Bailin, Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merril Lynch, Don Plaus, Hale Behzadi, Citi David, Eduardo Martinez Campos, Keith Lee Hong, Fernando Lopez Munoz, Luigi Pigorni, Jeff Sutton, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Citi, Business, Bankers, Citi Wealth, Citi Global Wealth, North America, Eduardo Martinez Campos Head, Mark, Mark Mills Regional, Fernando Lopez Munoz Head, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Keith Lee Hong Kong, Mark Mills, Shyam Sambamurthy South Asia, America, West China, hcuccinello@businessinsider.com

☆ Economic growth and security risks historically coincide, says Steven Wieting
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic growth and security risks historically coincide, says Steven WietingSteven Wieting, Chief Investment Strategist and Chief Economist at Citi Global Wealth Investments, discusses the stock sell-off and rising geopolitical risks.

Persons: Steven Wieting Steven Wieting Organizations: Investment, Citi Global Wealth Investments

☆ Investors should seek opportunities both within yields and equities, says Citi's Kristen Bitterly
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should seek opportunities both within yields and equities, says Citi's Kristen BitterlyKristen Bitterly, Citi Global Wealth head of North America investments, joins 'Squawk Box' to discuss the latest market trends, why she's not concerned about the wild market action so far this month, why she likes the biotech sector, the fixed income market, and more.

Persons: Citi's Kristen, Kristen, she's Organizations: Investors, Citi Global Wealth Locations: North America

☆ Watch CNBC’s full interview with Solus' Dan Greenhaus, New York Life Investments' Lauren Goodwin and Citi Global Wealth's Kristen Bitterly
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Solus' Dan Greenhaus, New York Life Investments' Lauren Goodwin and Citi Global Wealth's Kristen BitterlyDan Greenhaus, Solus Alternative Asset Management chief strategist, Lauren Goodwin, New York Life Investments economist, and Kristen Bitterly, head of investment solutions at Citi Global Wealth, join 'Closing Bell,' to discuss the markets, economy, labor market, and the Fed's next moves.

Persons: Solus, Dan Greenhaus, Lauren Goodwin, Kristen Organizations: Dan Greenhaus , New York Life Investments, Citi Global, Asset Management, New York Life Investments, Citi Global Wealth Locations: Dan Greenhaus , New York, New York

☆ Rates might drive correctioin into earnings season: Solus' Dan Greenhaus
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRates might drive correctioin into earnings season: Solus' Dan GreenhausDan Greenhaus, Solus Alternative Asset Management chief strategist, Lauren Goodwin, New York Life Investments economist, and Kristen Bitterly, head of investment solutions at Citi Global Wealth, join 'Closing Bell,' to discuss the markets, economy, labor market, and the Fed's next moves.

Persons: Solus, Dan Greenhaus Dan Greenhaus, Lauren Goodwin, Kristen Organizations: Asset Management, New York Life Investments, Citi Global Wealth Locations: New York

☆ 'There's very little margin for error': 7 strategists explain why the Goldilocks narrative is in trouble — but these 8 investments are still worth making now
▼ + stars: | 2024-02-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Investors are pricing in a best-case outcome where earnings rise and inflation returns to normal in a continued economic expansion. “It’s a tough needle to thread,” said Steve Sosnick, the chief strategist at Interactive Brokers. “And that pretty much pulls forward almost all the returns, in our minds, for 2024.”AdvertisementCrit Thomas, a global market strategist at Touchstone Investments, has the same concern. “And so at 21x earnings, there’s very little margin for error here.”AdvertisementFourth-quarter earnings mostly met measured expectations , as did forward guidance. Clark Bellin, the chief investment officer at Bellwether Wealth, said he’s less worried about valuations broadly and is more interested in seeing which sectors look cheap.

Persons: —, ”, Solita Marcelli, “, Sameer Samana, Steve Sosnick, It’s, Steven Wieting, “ We’ve, Crit Thomas, “ I’m, ” Thomas, We’re, Chris Galipeau, ” Galipeau, ” Sosnick, we’ve, Liz Ann Sonders, Schwab, ” Sonders, there’s, Clark Bellin, he’s, ” Bellin, you’re, Stocks, Samana, won’t, Thomas, Wieting, Bellin, “ They’ve, they’re Organizations: Service, Business, UBS Global Wealth Management, Federal Reserve, Wells, Wells Fargo Investment Institute, Interactive, Citi Global Wealth’s, Touchstone Investments, Franklin Templeton Institute, Citi Global Wealth, Bellwether Wealth Locations: Wells Fargo, Samana, ” Samana, Galipeau

☆ The chief strategist at Citi Global Wealth shares his top growth investments for a resilient economy in 2024 — including his highest-conviction commodity that will triple its demand by 2030
▼ + stars: | 2024-02-07 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Inflation was certainly severe and very troubling for markets, but ultimately its sources were transitory, Wieting said. As other energy-based companies and commodities grapple with a transition to clean energy, copper is expected to reap the benefits. The transition to clean energy and the move toward electric vehicles means demand for copper will triple by 2030, according to Citi Global Wealth's 2024 outlook. He believes the Magnificent Seven will be a strong part of the economy going into 2024 once again. Therefore, investors should look for opportunities in mid-cap growth or those within the S&P 400, the benchmark for the US mid-cap stocks.

Persons: Steven Wieting, Wieting Organizations: Federal, Citi Global Wealth, Business, Housing, Citi Global

☆ Why Citi Global Wealth's Kristen Bitterly is still constructive on markets
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Citi Global Wealth's Kristen Bitterly is still constructive on marketsKris Bitterly, Citi Global Wealth, talks the possibility of a soft landing, the state of the markets, and more.

Persons: Kristen Organizations: Citi Global, Kris, Citi Global Wealth

☆ Fed cuts come down to the labor market, says Morgan Stanley’s Jim Caron
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed cuts come down to the labor market, says Morgan Stanley’s Jim CaronDavid Kelly, JPMorgan Asset Management chief global strategist, Kristen Bitterly, Citi Global Wealth Management head of North America investments, and Jim Caron, head of Macro Strategies for Global Fixed Income at Morgan Stanley, join 'Power Lunch' to discuss the Fed decision to keep rates unchanged.

Persons: Morgan Stanley’s Jim Caron David Kelly, Kristen, Jim Caron, Morgan Stanley Organizations: Fed, JPMorgan Asset Management, Citi Global Wealth Management Locations: North America

☆ The Fed is focused on the interaction between inflation and the jobs market, says Steven Wieting
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed is focused on the interaction between inflation and the jobs market, says Steven WietingSteven Wieting, Chief Investment Strategist & Chief Economist at Citi Global Wealth Management Investments, discusses today's Core PCE report and what it means for the economy.

Persons: Steven Wieting Steven Wieting Organizations: Citi Global Wealth Management Investments, PCE

☆ Period of slower global growth will give way to 'healthier' expansion, Citi says
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeriod of slower global growth will give way to 'healthier' expansion, Citi saysSteven Wieting, chief investment strategist and chief economist at Citi Global Wealth, explains why he believes the global economy does not need a recession to clear out excess price pressures, and will emerge stronger after this year.

Persons: Steven Wieting Organizations: Citi, Citi Global Wealth

☆ No 'economic collapse': Top Citi strategist says healthier economic growth is coming
▼ + stars: | 2024-01-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The global economy does not need a "collapse" in order to bring inflation back to target and return to sustainable growth, according to Steven Wieting, chief investment strategist and chief economist at Citi Global Wealth. Major economies have proven surprisingly resilient to sharp interest rate increases from central banks over the last two years. This has been particularly evident in the U.S., with recession thus far avoided and the labor market remaining robust. Talk has now turned to rate cuts as inflation remains on a downward trajectory toward central banks' targets, while growth has slowed. Wieting told CNBC's "Squawk Box Europe" on Monday that he is optimistic the global economy does not need an "economic collapse" to rein in inflation.

Persons: Steven Wieting, Wieting, CNBC's Organizations: Citi Global Wealth Locations: U.S

☆ 2023's AI boom was about 'obvious' plays — here's how to invest in the next leg, according to Citi
▼ + stars: | 2024-01-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Here are four areas that are "clear beneficiaries from the coming integration of AI into everyday business and personal lives," according to Citi. AI infrastructure Key suppliers along the global semiconductor value chain are set to be big beneficiaries in 2024, Citi said. That will include chipmakers, semiconductor equipment and data centers. The continuing manufacturing and e-commerce boom will lead to the need for more automation and robotics, according to Citi. Cybersecurity Citi warned of a sinister side to the proliferation of AI: hackers using AI chatbots to write the code to carry out cyberattacks.

Persons: Kristen, there's, Cybersecurity Organizations: Nvidia, Citi, Citi Global Wealth, Semiconductor, FDA, Citi Research, Robotics, Cybersecurity Citi Locations: Singapore

☆ 'A trove of rebound opportunities': Strategists turn bullish on biotech and more, picking top stocks
▼ + stars: | 2024-01-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

2023 wasn't a good year for the health-care sector, but some investors expect it to make a comeback this year — highlighting biotech and medical tech as areas to watch. But now, Citi believes that "astute investors may find themselves with a trove of rebound opportunities." Citi's top picks in biotech include Biomea Fusion , Alnylam Pharmaceuticals , and Immunovant . Jared Holz, health-care sector strategist at Mizuho Securities Americas, named biotech firm Biogen as one of his top trading ideas for 2024. "Biotech has commanded everyone's attention, but the recovery of many best-in-class medical device companies post the GLP-1 selloff has been remarkable," Orton said.

Persons: There's, Jared Holz, Biogen, Trent, medtech, Matt Orton, Orton Organizations: Citi Global Wealth Investments, U.S . Healthcare, Citi, Biomea, Alnylam Pharmaceuticals, Mizuho Securities Americas, Biogen, medtech, Raymond James Investment Management, Medical, Biotech, Abbott Laboratories Locations: U.S, Alphinity, medtech

☆ Here’s where to invest $50,000 in the new year, according to the pros
▼ + stars: | 2024-01-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +8 min

The S & P 500 rose 24% in 2023, ending the year just shy of a record closing high. The highest S & P 500 target on the Street calls for 8.7% upside from Thursday's close. A fund with exposure to small and midcap semiconductor stocks is the SPDR S & P Semiconductor ETF (XSD) . Exposure to this space can be obtained through the SPDR S & P Health Care Equipment ETF (XHE) . For these investors, Bailey likes Berkshire Hathaway , calling it a counter-cyclical sitting on a ton of cash.

Persons: Larry Adam, Raymond James, Robert Kaplan, Steven Wieting, Wieting, there's, Mike Bailey, — Bailey, Bailey, They're, Berkshire Hathaway, Eli Lilly, they're, Jack Ablin, Ablin, Rowe Price Organizations: Nasdaq, Dow Jones Industrial, CNBC Pro's, Survey, National Association for Business Economics, Dallas Federal, CNBC, Bank of America, Fed, CNBC Pro, Citi Global Wealth, Nvidia, Meta, Microsoft, P Semiconductor, P Health Care, FBB Capital Partners, Corporate, Aggregate Bond, Berkshire, Essex Property Trust, Federal Realty Trust, Rowe Price Group Locations: Essex

☆ The market is still too tech heavy, says NewEdge's Cameron Dawson
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market is still too tech heavy, says NewEdge's Cameron DawsonCameron Dawson, chief investment officer for NewEdge Wealth, and Kristen Bitterly, Citi Global Wealth Management head of North America investments, join 'Closing Bell' to discuss their expectations for the last month of the year and 2024.

Persons: NewEdge's Cameron Dawson Cameron Dawson, Kristen Organizations: Citi Global Wealth Management Locations: North America

☆ Watch CNBC's full interview with NewEdge Wealth's Cameron Dawson and Citi's Kristen Bitterly
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with NewEdge Wealth's Cameron Dawson and Citi's Kristen BitterlyCameron Dawson, chief investment officer for NewEdge Wealth, and Kristen Bitterly, Citi Global Wealth Management head of North America investments, join 'Closing Bell' to discuss their expectations for the last month of the year and 2024.

Persons: NewEdge Wealth's Cameron Dawson, Citi's Kristen, Cameron Dawson, Kristen Organizations: Citi Global Wealth Management Locations: North America

☆ Global yields are 'terrible competition' for stocks, says Citi's Steven Wieting
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal yields are 'terrible competition' for stocks, says Citi's Steven WietingSteve Wieting, Citi Global Wealth chief investment strategist, joins 'The Exchange' to discuss stocks vs. bonds, the state of the economy, and more.

Persons: Citi's Steven Wieting Steve Wieting Organizations: Citi Global Wealth

☆ Expect to see continued volatility in the 10-year Treasury yield, says Citi's Kristen Bitterly
▼ + stars: | 2023-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect to see continued volatility in the 10-year Treasury yield, says Citi's Kristen BitterlyKristen Bitterly, Citi Global Wealth head of North America Investments, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, Treasury market volatility, and more.

Persons: Citi's Kristen, Kristen Organizations: Treasury, Citi Global Wealth, North America Investments

☆ Make these 12 investments before stocks charge toward new record highs after the US avoids a recession next year, according to the investment chief at $756 billion Citi Global Wealth
▼ + stars: | 2023-11-14 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

The top investing mind at Citi Global Wealth believes a long-awaited economic slowdown isn't around the corner — it's in the rearview mirror. Job creation is starting to slow , the investment chief noted, but lower interest rates could certainly change that. Higher earnings will be driven by lower wage growth and improved productivity from innovations like artificial intelligence, Bailin said. As for stocks, Bailin prefers funds tracking the equal-weight version of the S&P 500 as earnings rise across the board. Growth stocks have carried the market this year, and the investment chief said he continues to prefer the group to cyclicals despite his rosy economic outlook.

Persons: David Bailin, —, Bailin, slowdowns, I've, Bailin doesn't, — they'll Organizations: Citi Global Wealth, Business, Investors, Federal Reserve, Citi, Goldman Sachs, Management

☆ Wall Street says small-cap stocks are a good bet in a choppy market. Here are the top names
▼ + stars: | 2023-10-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Small-cap stocks were on investors' radar last week. The Russell 2000 index turned in five straight days of gains for the first time since mid-July, according to CNBC analysis. "We're in consumer staples stocks and Russell 2000 stocks," said Niles, adding that Pepsi is the fourth-largest holding in his Satori Fund's consumer staples basket. Both Citi and Morningstar said small-cap stocks now look cheaper than the broader market. How to play small-caps One of the more popular ways to invest in small-cap stocks is through the iShares Russell 2000 ETF (IWM).

Persons: Russell, Dan Niles, CNBC's, Niles, David Bailin, Morningstar, Davidson, — CNBC's Michelle Fox, Fred Imbert Organizations: CNBC, Russell, Pepsi, Citi, Citi Global Wealth's, Morningstar Equity Research, Ionis Pharmaceuticals, Screen CNBC Pro Locations: Israel, Gaza

☆ We will 'absolutely' see earnings growth in 2024: Citi's Kristen Bitterly
▼ + stars: | 2023-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will 'absolutely' see earnings growth in 2024: Citi's Kristen BitterlyKristen Bitterly, Citi Global Wealth Management head of North America investments, joins 'Closing Bell' to discuss the Fed, earnings and markets.

Persons: Citi's Kristen, Kristen Organizations: Citi Global Wealth Management Locations: North America

☆ Watch CNBC's full interview with Citi Global's Kristen Bitterly and PIMCO's Erin Brown
▼ + stars: | 2023-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Citi Global's Kristen Bitterly and PIMCO's Erin BrownKristen Bitterly, Citi Global Wealth Management head of North America investments, and Erin Browne, PIMCO portfolio manager, join 'Closing Bell' to discuss short-term risks for the stock market.

Persons: Citi Global's Kristen, PIMCO's Erin Brown Kristen, Erin Browne Organizations: Citi Global's, Citi Global Wealth Management Locations: North America

☆ US government shutdowns don’t send markets tanking, but the coast is far from clear
▼ + stars: | 2023-09-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

During the most recent government shutdown in 2019, the S&P 500 rose more than 10%. The S&P 500 on Tuesday logged its lowest close since June and fell below the threshold it passed that same month to enter a new bull run. The S&P 500 has gained 0.5% on average during the month following the end of a shutdown and 1.5% during the period three months after. Meta’s Zuckerberg unveils Quest 3Meta is moving forward in its efforts to dominate the AR world with the new and improved Meta Quest 3, reports my colleague Jennifer Korn. The Meta Quest 2 allows for strictly virtual reality, while the Meta Quest Pro has advanced passthrough cameras for seeing your actual surroundings, but it costs a whopping $1,000.

Persons: shutdowns, ”, Steven Wieting, Goldman Sachs, Jeffrey Roach, Ned Davis, Meta’s Zuckerberg, Jennifer Korn, Mark Zuckerberg, Jeanne Sahadi, Read Organizations: CNN Business, Bell, CNN, Strategas Research Partners, Citi Global Wealth, Reserve, LPL, Fed, Stocks, Ned Davis Research, Meta, Pro, Fortune, Pew Research Center, Pew Locations: United States

☆ The strength of the labor market is driving the ability to borrow, says BofA's David Tinsley
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe strength of the labor market is driving the ability to borrow, says BofA's David TinsleyDavid Tinsley, senior economist at the Bank of America institute, and Steven Wieting, chief investment strategist at Citi Global Wealth Management Investments, join 'The Exchange' to discuss the deceleration in consumer spending, inventories shrinking due to persistent strength in services hiring, and more.

Persons: BofA's David Tinsley David Tinsley, Steven Wieting Organizations: Bank of America, Citi Global Wealth Management Investments

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