Merrill Lynch hired a new international wealth strategist from Citibank, the firm said.

Fabio Concesi, who worked for Citibank for 10 years, will join Merrill’s Strategic Wealth Advisory Group in Miami. He reports to Stacy Allred, head of the group.

Concesi serves clients in Latin America, specializing in estate planning and other wealth planning services.

Concesi started his career in 2004 as a tax advisor at PricewaterhouseCoopers in Rio de Janeiro, according to Merrill. He later joined Citibank in Barcelona, Spain, as a legal and compliance officer. Concesi relocated to Miami in January 2012 to join Citi's wealth planning team, which serves ultrahigh-net-worth clients.

Last July, Merrill Lynch announced it was creating a specialized team to advise ultrawealthy clients in 29 countries. That team is being modeled after the Private Banking & Investment Group, Merrill's elite brokerage unit that serves ultrawealthy clients.

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