Atlantic Trust, the private wealth management division of New York-listed Invesco, has merged its Washington, DC, and Baltimore, MD, offices to create Mid-Atlantic headquarters.

The firm has moved its Washington office to 1201 F Street, NW, Suite 900 and the combined team will be led by managing director Andrew Nichols, who has run the Baltimore office since 2006.

Jack Markwalter, chairman and chief executive, said the strategic move is part of the firm's ongoing effort to expand the business, attract "top talent" and provide clients with personalized wealth management and investment solutions.

Combined, the Washington, DC, and Baltimore offices had over $1 billion in assets under management as of October 31, having  increased by 21.8 per cent over the past year.

The firm told Family Wealth Report that there would be no staff cuts as a result of the move. "While we're not currently in an active search, we are keeping our eyes open for talented professionals in the DC area to further expand our presence there," a spokesperson said, but "we are not currently hiring in Baltimore."