NEW YORK, June 12 (Reuters) - Citigroup's ( C/PN ) new head

of wealth, Andy Sieg, further reshuffled his leadership team by

appointing two executives on Wednesday who will help drive his

efforts to retain clients' investment assets.

Sieg tapped Kris Bitterly to run Wealth at Work, a business

that serves clients through their employers, according to a memo

seen by Reuters.

He also hired Keith Glenfield, with whom he worked closely

at Merrill Lynch Wealth Management, to succeed Bitterly as head

of investment solutions when she takes on her new role in

September.

"It is time for a laser-like focus on winning our clients'

investment assets," to expand beyond their traditional banking

and lending needs, Sieg wrote. He will address investors later

Wednesday in his first remarks at a public conference since

joining Citi in September.

Bitterly, who currently leads investment solutions, will

succeed Joe Ryan, who is running the Wealth at Work business on

an interim basis after the departure of Naz Vahid was announced

last month.

Sieg has pushed a growth strategy based on capturing the

estimated $5 trillion in assets that Citi's wealthy clients have

invested with other banks or asset managers.

He also hired Dawn Nordberg from Morgan Stanley to lead

integrated client engagement, it announced last week. The new

wealth function is intended to boost collaboration, including

with the company's banking unit led by Viswas Raghavan, who

started earlier this month.

Citigroup ( C/PN ) CEO Jane Fraser has also emphasized getting a

"fair share" of its client assets invested elsewhere, she told

investors in April.

"That will help us get the returns where they need to be in

this business in the medium term," she said.

The wealth division poses the biggest challenge for Citi to

improve its operational performance and shift its mix of

businesses to reduce its reliance on lending, Bank of America

analysts led by Ebrahim Poonawala wrote in a note last week.

"Management will need to make the case for how Citigroup ( C/PN ) can

effectively compete against industry behemoths such as UBS and

HSBC when comparing to global banks and the likes of Morgan

Stanley, JPMorgan and Bank of America in the U.S."

If the turnaround is not successful, the bank may

consider strategic alternatives for the division, he added.