$200m Citi Miami advisor exits to join Bolton

Enrique Ortega had been at Citi for almost a decade and covered clients in Latin America.

Bolton Global Capital has recruited an international advisor from Citi Global Wealth Management for its branch in Miami, the company announced Wednesday.

Enrique Ortega joined the independent broker-dealer and RIA after almost 10 years at Citi where he oversaw a client book of more than $200m for clients based in Latin America, according to Bolton.

A 15-year financial industry veteran, Ortega (pictured) has previously worked for Bank Leumi, EFG Capital and Banco Pichincha.

He is joining a group of about 50 advisors based out of Bolton’s Miami office led head of business development Michael Averett, who joined the group in February last year from Citi International Personal Bank where he was its Miami-based regional director.

‘Having known Enrique for many years, I’ve always admired his professionalism and commitment to his clients. Bolton Global Capital is thrilled to have Enrique join our team. His proven success and experience will be a valuable asset for the future growth of our organization,’ said Averett.

In January, Bolton’s CEO Ray Grenier told Citywire he was aiming to recruit more international advisors to help boost his company’s $12bn in assets under management by up to $3bn this year.

‘Our expectation is that five-to-10 teams from the major banks with $2bn-3bn in AUM will join Bolton in 2023,’ Grenier said.

‘We are “all in” on growing our Miami business. We recently added 8,000 square feet to our penthouse suite at the Four Seasons Tower on Brickell Avenue bringing our total space to around 28,000 square feet,’ he added.