Tactical asset allocation
The Global Investment Committee recommends tactical adjustments to your strategic asset allocation, aiming to take advantage of opportunities and mitigate risks over the near term.
Tactical asset allocation — making short-term adjustments to your long-term allocation — can play an important role in seeking enhanced returns and mitigating risks in your core portfolio.
Effective tactical asset allocation across many asset classes and countries requires discipline and expertise.
Our Global Investment Committee (GIC) is a team of thought leaders who determine our tactical positioning, bringing you perspectives on market developments.
Led by our Chief Investment Strategist and Chief Economist, the GIC’s 14 voting members each have between 16 and 45 years of experience.
It draws upon in-depth analysis carried out by our four regional strategy teams and other specialists from across the Private Bank, as well as from Citi Research.
The GIC’s decisions are based on quantitative and qualitative analysis, taking a 12- to 18-month view of the markets.
The GIC updates its tactical positioning at least every month and more often when events require it.
Our portfolio managers, Investment Counselors and Investment Lab use the GIC’s adjustments to build core portfolios for you.
Understanding the global business cycle and the excesses of fear or over-confidence about the future helps navigate through periods of feast and famine in financial markets.
How we serve you
INSIGHTS ACROSS ASSET CLASSES
The GIC provides tactical analysis and weightings for equities, fixed income, hedge funds, commodities and cash.
In addition to broad asset class positioning, the GIC gives granular recommendations for sub-regional and country asset classes, such as Japan equities, European high yield fixed income, and gold.
LOCAL INSIGHTS, GLOBAL PERSPECTIVES
Led by our Global Chief Investment Strategist, the GIC draws upon analysis from our four regional strategy teams, and from professionals across the Private Bank.
It also benefits from access to Citi Research’s institutional analysis covering companies, sectors, economics, geopolitics, asset allocation and investment strategy.
ACTIONABLE INSIGHTS
The GIC’s decisions are based on quantitative and qualitative analysis, taking a 12- to 18-month view of the markets.
The GIC updates its tactical positioning at least every month and more often when events require it.
Its recommendations and insights appear in the Global Strategy team’s monthly Quadrant publication.
Your questions
The GIC provides tactical insights and weightings for equities, fixed income, hedge funds, commodities and cash.
As well as broad asset class positioning, the GIC gives granular recommendations for sub-regional and country asset classes, such as Japan equities, European high yield fixed income, and gold.
The GIC updates its recommendations at least monthly. They appear in the Global Strategy team’s Quadrant publication.
Meet our people
Steven Wieting
Meet our wealth expert
Steven heads our Global Strategy team which formulates our macro investment views across all regions and asset classes. He chairs our Global Investment Committee, which sets our tactical asset allocation, the basis for discretionary portfolios we manage for clients.
As Chief Economist, Steven provides detailed macroeconomic analyses to inform portfolio decisions.
Previously, Steven was Head of Economics for US institutional equities at Citi Investment Research. He advised the firm’s institutional and government clients globally on macroeconomic developments, forecasts and policy analysis.
He was also economic advisor to the Morgan Stanley Smith Barney Global Investment Committee and a voting member of predecessor Asset Allocation Committees at Salomon Smith Barney.
Steven has a master’s in quantitative economics from the Zicklin School of Business, Bernard M. Baruch College, City University of New York
Bruce Harris
Meet our wealth expert
Bruce is responsible for providing potential investment opportunities and high conviction ideas for global fixed income markets.
Bruce joined the Private Bank in 2018 as a fixed income product specialist, he provided corporate and sovereign credit investment ideas around North and Latin American issuers. Previously, he was an emerging markets credit analyst at Millennium Partners. He has held roles encompassing credit analysis, structured finance origination, and structured credit trading at Commerzbank, Koch Capital, Enron, and Cargill Financial Services. He started his career as a Latin American bond trader at ING.
Bruce earned a bachelor’s degree at the University of Texas at Austin, and a master’s in international Affairs from Columbia University’s School of International and Public Affairs.
Joseph Fiorica
Meet our wealth expert
Joe is responsible for identifying particular equity sectors, and style factors that are driving global indices. He is also a voting member of the Private Bank’s Global Investment Committee.
Before joining Citi, Joe worked at the Federal Reserve Bank of New York, where he was a policy analyst in the Fed’s Markets Group.
Joe has a bachelor’s in economics and computer science from Georgetown University and an MBA from NYU Stern School of Business. He is also a CFA charter holder.
Guillaume Menuet
Meet our wealth expert
Guillaume is responsible for identifying investment opportunities and risks across asset classes in EMEA. He is also a voting member of the Global Investment Committee, helping to set our tactical asset allocation guidance.
With over 25 years’ experience in European economic analysis, Guillaume was previously the lead Euro Area Economist at Citi Research.
Prior to joining Citi in 2011, Guillaume worked at the Bank of America, Moody’s Investors Service, 4Cast and the International Energy Agency.
Guillaume holds a bachelor’s in economics from Middlesex University, a master’s in economics and finance from the University of Nantes and a master’s in economics the University College London, France.
Ken Peng
Meet our wealth expert
Based in Hong Kong, Ken is responsible for identifying investment opportunities and risks across asset classes throughout the region.
Ken has over 20 years of investment and research experience. Prior to joining the Private Bank, he was Senior China Economist at BNP Paribas. Previously, he worked for Citi Investment Research for 11 years. Based in Beijing and Shanghai, he covered China macro investment themes and Asia regional economics. He started his career in 2000 covering the US economy and markets for Citi Investment Research in New York.
Ken received a bachelor’s from Boston College and an MBA from the New York University Stern School of Business.
Jorge Amato
Meet our wealth expert
Jorge is responsible for identifying investment opportunities and risks in Latin America across asset classes.
His work includes the study and interpretation of economic, regional trends, and dynamics, as well as market fundamental and technical analysis.
Jorge has 30 years of buy-side and sell-side institutional experience, investing and trading emerging markets. He joined Citi in 2016 from hedge fund Millennium Partners in New York, where he was an emerging markets portfolio manager. Prior to that, he was the head of Latin America fixed income and credit derivatives trading at ING, Espirito Santo and Dresdner. His experience also includes spells at Cargill Financial Services and Deutsche Bank.
Jorge earned a bachelor’s in economics from the Universidad de Belgrano, and a master’s in finance from the Centro de Estudios Macroeconomicos in Buenos Aires, Argentina. He also holds FINRA Series 66, 63 and 7 licenses.
Charlie Reinhard
Meet our wealth expert
Charlie Reinhard is the Investment Strategist for the North America region at the Private Bank.
He is a member of the Office of the Global Chief Investment Strategist and is responsible for identifying investment opportunities and risks in North America across asset classes, as well as representing the Global Investment Committee’s views within the region. He is based in New York.
Before joining the Private Bank in 2017, Charlie was the Chief Portfolio Strategist for New York Life’s MainStay Investments where he led the firm’s investment thought leadership efforts. Previously, Charlie was the Deputy Chief Investment Officer for Morgan Stanley Wealth Management, focusing on investment opportunities and implementation strategies.
Charlie previously heading portfolio strategy and was the Associate Director Research at Neuberger Berman after being the Senior US Equity Strategist at Lehman Brothers.
Charlie has appeared on CNBC, other news broadcasts and in print media. He earned an MBA from New York University’s Stern School of Business and a BS from Carnegie Mellon University.
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