Last August, Sabadell United Bank acquired Lydian Private Bank, which had $1.6 billion in assets. For Sabadell United, it was a strategic move to add a wealth management component. By buying Lydian, Sabadell added five offices in new markets in Tampa Bay, Sarasota, Naples and eastern Palm Beach County. Most of Lydian’s wealth management advisers stayed on with the rebranded Sabadell Bank & Trust division. As a result of the acquisition, private banking customers now have a broader array of banking services, such as jumbo mortgages, not available before. Sabadell United Bank has $3.51 billion in assets and slightly less than $1 billion in assets under management in its Sabadell Bank & Trust wealth management division.
