Atlantic Trust, the private wealth management division of Invesco, has hired Jeffrey Jacobs as a managing director and director of business development in Chicago.

In Boston Sid Nargundkar has joined as a vice president and equity analyst for the firm’s disciplined equity team and Chris Flynn, as an associate vice president and associate relationship manager.

Jacobs joins from Bessemer Trust where he was a principal responsible for cultivating new relationships with wealthy families and their foundations in the Midwest.

The addition of Jacobs marks the firm’s third senior business development hire in the past 12 months.

“Adding Jacobs to our Chicago team is part of our firm-wide initiative to invest in key regions for growth,” Jack Markwalter, Atlantic Trust chairman and chief executive officer said. “The Midwest is a region where we have a long history through legacy Stein Roe Investment Counsel and where we have a great opportunity to build our business.  We believe Jacobs will help us further strengthen our presence in this growing market.” 

The Chicago office has 11 client service and business development professionals and more than $2 billion in assets under management as of November 30th.

Nargundkar has more than seven years of industry experience analyzing high-tech companies and trends for firms such as Wells Fargo Securities, Oracle and HP.

Flynn joins Atlantic Trust after serving as a portfolio manager with State Street Global Advisors and an investment analyst with United Asset Management.

Boston is the firm’s largest office. It has 24 client service and business development professionals and 12 investment analysts and more than $4.5 billion in assets under management as of November 30th.

Atlantic Trust, which operates in 11 locations throughout the US, had more $16.6 billion in assets under management as of November 30.