Latin America will be the pioneer region in the reorganization launched by Citi Wealth Management, which will go from having a model based on the offices to having a geography-based scheme, industry sources told Funds Society.
The Cluster market model will consist of designating specialized managers according to the clients' residency. Thus, strategy, growth channels and business model, in addition to regulatory and market updates, will be borne by the SCE Market Heads, experts focused on each market.
Financial advisors at each office will continue to report on their daily tasks in each place.
Juan Guillermo Ramírez, current director of Citi Wealth Management Latin America, will be in charge of leading the changes in the region and launching this new model.
The South Cluster for residents of Argentina, Uruguay and Paraguay will be centered in Montevideo, adding to the efforts of the Miami and New York teams. Rodolfo Castilla, current director of Citi Wealth Management Southern Cone, will be in charge of the new structure.
Miguel Gross, will be in charge of the follow-up of customers residing in Chile. The countries of the Caribbean, Central America, Colombia, Ecuador and Venezuela will form the third Latin American Cluster of Citi and Brazil and Peru the fourth.