Investment Veteran Peter Barcia Joins Abbot Downing in New York
NEW YORK--(BUSINESS WIRE)-- Peter Barcia, a 27-year veteran in financial services who most recently served as 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 $34 billion 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, a leading U.S. wealth manager, with $1.5 trillion in client assets.
Peter Barcia, Managing Director and Senior Portfolio Manager Abbot Downing (Photo: Business Wire)
Barcia joined Citi in 2010, where he spearheaded the launch of a customized hedge fund solution business. In addition to constructing and managing customized portfolios, he traveled extensively through the U.S., Europe and the Middle East to promote the business and raise assets. Before joining Citi, he was managing director- U.S. head of customized 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. Barcia, a certified public accountant, began his career in 1985 at Deloitte & Touche after graduating from Hofstra University with an MBA in finance and a bachelor's degree in accounting.
"Peter has a rich history of advising clients on their financial asset decisions and managing complex portfolios," said Doug Evans, Abbot Downing senior managing director of asset management. "He brings a global perspective and specialized 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. "Successful individuals and families are looking for wealth managers who can go beyond the numbers to help them use their wealth to positively impact their families and their communities," said Paul Cummings, regional managing director of Abbot Downing's Northeast Region. "Peter's strong analytical abilities, coupled with his personable communication style, will make him a great advisor for our clients in New England and the New York metro area."
About Abbot Downing
Abbot Downing serves clients in all 50 states through offices in San Francisco, Palo Alto, Los Angeles, Scottsdale, Denver, Houston, Minneapolis, Chicago, Philadelphia, Washington, D.C., New York, Charlotte, Winston-Salem, Raleigh, Naples, Jacksonville, and Palm Beach. Abbot Downing is the world's eighth-largest family office based on assets, according to the 2012 Bloomberg Markets survey. Wells Fargo launched the Abbot Downing brand on April 2, 2012, combining two Wells Fargo ultra-high-net-worth businesses. The original Abbot Downing built the iconic stagecoaches that have come to represent Wells Fargo.
About Wells Fargo
Wells Fargo & Company (NYS: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2013 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially. Wells Fargo perspectives are also available at blog.wellsfargo.com.
Abbot Downing, a Wells Fargo business, provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries. Some alternative investments and complementary strategies may be available to pre-qualified investors only. Certain products and services offered subject to credit approval or credit qualification.
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