People Moves

Atlantic Trust Adds Former Abbot Downing Director To Houston Team

Eliane Chavagnon Reporter 24 April 2013

Atlantic Trust Adds Former Abbot Downing Director To Houston Team

Atlantic Trust, the private wealth management division of New York-listed Invesco, has ramped up its team in Houston, TX, appointing Catherine Schnaubelt as a senior vice president and senior wealth strategist.

Schnaubelt joins Atlantic Trust from Wells Fargo’s ultra high net worth family wealth division, Abbot Downing, where she was a director. Previously, she was a partner with Strasburger & Price, and a principal for the management consulting business within Avatar Associates.

Atlantic Trust’s Houston office has over $1 billion in assets under management, as at end-March 2013. The firm said the addition of Schnaubelt will allow it to better serve its existing client base and broaden relationships with law firms in Texas.

“Having someone in-office to review a client's estate plan or to discuss philanthropic strategies with a prospective client will further strengthen our client service efforts in Texas and the Southwest region,” said Linda Beerman, chief fiduciary officer and head of Atlantic Trust’s wealth strategies group.

At the end of March, Atlantic Trust brought in Denise Whennen as a senior vice president and business development officer at its Chicago, IL, office. The firm has $20.3 billion in assets under management, as at end-December 2012.

Earlier this month it emerged that CIBC has entered into an agreement to buy Atlantic Trust Private Wealth Management from Invesco for $210 million, marking a push by the Canadian firm into the US private wealth management market. The deal is expected to close in the second half of this year.  

 

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