April 25, 2015

Sector Portrait: Private Banking

Richard Westlund | 4/1/2010

William R. Klich
William R. Klich
  • Florida headquarters: St. Petersburg
  • Top Florida private banking executive: Celeste Byers
  • Assets under management: Would not disclose
  • Target investor: More than $500,000 in investable assets
  • Recent news: BB&T plans to add offices in Sarasota, Naples and south Florida.

"While acknowledging the challenges facing all of us in Florida, we expect those same challenges to create even more demand for financial planning at all levels of family income. Coupled with our expanded Florida franchise, BB&T expects to grow organically."

— William R. Klich, state president, BB&T Florida, chairman, Florida Bankers Association

U.S. Trust, Bank of America Private Wealth Management

Top Florida private banking executives: Doug DiVirgilio, Southeast division; Brian Mormile, southeast Florida region, Miami; Gerri Moll, west/central region, Naples

  • Assets under management: $188 billion nationally
  • Target investor: $3 million or more in investable assets

"This is a good time to be in U.S. stocks."

— Doug DiVirgilio, Southeast division executive

Wells Fargo & Co.
  • Florida headquarters: Jacksonville
  • Top Florida private banking executive: Bill D'Antignac
  • Assets under management: $118 billion (U.S.)
  • Target investor: More than $1 million in assets for individuals; more than $50 million for families
  • Recent news: Recently introduced text banking.

"With the recent economic crisis being global, we expect the recovery to be global as well. Investment market volatility is probably here to stay for some time."

— Bill D'Antignac, senior managing director

Northern Trust

  • Florida headquarters: Miami
  • Top Florida private banking executive: Sheldon Anderson
  • Assets under management: $145.2 billion globally
  • Target investor: $1 million or more in net worth
  • Recent news: Northern Trust opened an office in Fort Myers.

"Our outlook for 2010 expects continued improvement in global growth, accompanied by relatively easy monetary policy. We expect emerging markets to continue to lead the recovery, followed by the United States, Europe and then Japan. The most likely risk to this somewhat benign scenario is premature tightening by central banks that threatens the recovery."

— Sheldon Anderson, Southeast region president and CEO

Regions Financial Corp.

  • Florida headquarters: Tampa
  • Top Florida private banking executives: Joe Weaver, west Florida, Tampa; Alex Gonzalez, central Florida, Orlando; Scott Barrow, north Florida, Pensacola; Val Perez, south Florida, West Palm Beach
  • Assets under management: Would not disclose
  • Target investor: $500,000 or more in investable assets
  • Recent news: Regions Financial recently named Nick Stonestreet executive vice president leading its private banking division.

Tags: Banking & Finance

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