Merrill Lynch Andy Sieg is stepping down after six years leading Bank of America brokerage, the company announced on Thursday.

Sieg is taking on a new role as head of global wealth management at Citigroup, a spokesperson confirmed. He will report directly to Citi CEO Jane Fraser when he joins following a six-month garden leave.

“This is a fantastic opportunity to build a leading wealth management business at the world’s most global bank at a time of massive wealth creation worldwide,” Sieg said in a statement.

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