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Andy Sieg, a Merrill Lynch veteran, is parting ways with Bank of America to join Citigroup.

Andy Sieg will be the new head of Citi Global Wealth and will report to Jane Fraser, the bank’s CEO. Fraser announced Sieg would begin in the new position in September after taking a required six-month leave before starting. “Growing Wealth is a core pillar of our strategy and will improve our business mix by adding more fee-based revenue and drive improved returns,” Fraser said in the announcement. “In my conversations with Andy, it is clear to him that our team is on a mission to transform Citi — and he is highly driven and motivated to play a central role in our firm’s leadership.”

For the past six years, Sieg has been president of Merrill Lynch Wealth Management. In addition, he was a member of the executive management team of Bank of America. The bank acquired Merrill during the height of the great financial crisis. As part of this announcement, Bank of America announced that Lindsay Hans and Eric Schimpf had been appointed presidents and co-heads of Merrill Wealth Management. They will report to Brian Moynihan, CEO of Bank of America.