Citigroup Names New Chief Investment Officer

Citigroup has appointed Jeffery Applegate as chief investment officer for global wealth management. Applegate joins the firm from Franklin Templeton, where he occupied the position of chief investment officer for the global equity, fixed income, real estate and alternative investments

By None

Citigroup has appointed Jeffery Applegate as chief investment officer for global wealth management.

Applegate joins the firm from Franklin Templeton, where he occupied the position of chief investment officer for the global equity, fixed income, real estate and alternative investments divisions. He will be based in New York and will report to Sallie Krawcheck.

His appointment comes as part of an overhaul of Citigroup’s global wealth management unit, which is being conducted by the firm’s former chief financial officer.

News of his hire follows Citigroup last week reporting that it has posted a 23% increase in profit from global wealth management. The improvement came despite a 57% drop in profits across the company.

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