Goldman Sachs has hired Clark Winter as director of portfolio strategy for its private wealth management team. He will work with private wealth advisors to develop and maintain relationships with significant clients, particularly those outside the US.

Mr Winter was previously chief global investment strategist for Citigroup's global wealth management business and a major part of the bank's wealth business. He joined Citi in 2001 after selling his independent advisory firm Winter Capital International to the bank.

Prior to that he had a long history in investment management, at Morgan Guaranty Trust, where he opened offices in Spain and Mexico, and as chief executive of Global Asset Management, now a part of UBS.

Mr Winter rejoins Peter Scaturro who was appointed global head of Goldman Sachs Private Wealth Management in June. Mr Scaturro left Citigroup, where he ran 98 private bank offices in 38 countries, in 2004 after regulators forced the shutdown of its private bank in Japan, and was given the chief executive role at US Trust in 2005.