Peter Barcia, a former director of portfolio solutions at Citi Private Bank, has joined the New York office of Abbot Downing as managing director and senior portfolio manager.
Abbot Downing, with USD34bn in client assets and a 40-year history serving ultra-high-net-worth clients, is part of Wells Fargo's wealth, brokerage and retirement group.
Barcia joined Citi in 2010, where he spearheaded the launch of a customised hedge fund solution business. In addition to constructing and managing customised portfolios, he travelled extensively through the US, Europe and the Middle East to promote the business and raise assets.
Before joining Citi, he was managing director and US head of customised solutions at UBP Asset Management in New York, where he worked with both institutional and high-net-worth clients. From 2000-2004, he worked at Bessemer Venture Partners, where he helped build an equity trading, hedging and finance platform for a successful venture capital partnership. Prior to that, he worked six years at Deutsche Bank-Asset Management in New York, where he worked as a portfolio manager for institutional fixed income products.
"Peter has a rich history of advising clients on their financial asset decisions and managing complex portfolios," says Doug Evans, Abbot Downing senior managing director of asset management. "He brings a global perspective and specialised expertise in alternative investments that we believe our clients will appreciate."
Barcia will work closely with a team of Abbot Downing professionals in the Northeast region who provide planning and family dynamics services, asset management, private banking, trust, fiduciary and administrative services.