Big bank keen to serve ultra-high-net-worth families in and around Texas hub. Bank of America's Family Wealth Advisors multifamily-office group has put together a team to serve wealthy clients in Houston and nearby communities. The new team will be led by senior wealth advisors David Creasey and Whitney Randolph, who will lead a team of bankers, wealth strategists, and client-service specialists.

Rapid growth

The area boasts almost 500 wealthy households with combined assets of $34 billion, according to Bank of America estimates.

"Texas is a rapidly growing and dynamic wealth market," says Alan Rappaport, president of Family Wealth Advisors. "Building on the success of our organization in Dallas, David, Whitney and their team will bring to Houston tremendous experience and a keen understanding of the sophisticated products and advisory services that this unique client segment requires."

Creasey has been with Bank of America and its predecessor companies for more than 24 years; Randolph has been with the Charlotte, N.C.-based bank since 2000.

Late in November 2006, Bank of America agreed to buy U.S. Trust from Schwab. -FWR

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