Family Office

Business consultancy hires ex-Citigroup executive

FWR Staff 29 September 2008

Business consultancy hires ex-Citigroup executive

Milestone "expands breadth of advisory services" with McGann's appointment. Former Citigroup wealth manager Douglas McGann has joined Milestone, a business consultancy to financial-service firms, as a partner. The appointment is meant to broaden Milestone's offerings to include advice on financing and practice management for wealth-management firms.

"Since we launched the firm in early 2007, we have sustained strong growth despite challenging market conditions in financial services," says Milestone's managing partner Jess Varughese. "Adding Doug to our Partner team furthers our growth strategy considerably."

Trusted advisor

McGann was head of Citi's Citigold Wealth Management business in Asia Pacific. That's Citi's premier-banking service to mass-affluent and high-net-worth services that includes investment consulting and a limited menu of concierge services. It functions mainly outside the U.S.

Before joining Citi in 2005, McGann was in charge of strategy and business execution for JPMorgan Chase's Personal Financial Services group -- another high-end retail outfit. At JPMorgan, McGann "successfully led the development of strategy and business execution for a new distribution and operating model serving more than a quarter million affluent and high net worth clients," according to Milestone.

Earlier in his career, McGann also worked at business consultancies Deloitte and CAPCO.

McGann says he joined New York-based Milestone because he believes in its "trusted advisor" consulting model and because he "wanted to be a part of a firm that is highly focused and expertise driven." -FWR

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