Strategy

Bank Of The West Wealth Management Expansion On Track

Eliane Chavagnon Americas Correspondent 20 June 2013

Bank Of The West Wealth Management Expansion On Track

Bank of The West could bolster its wealth management business by adding of up to 100 extra staff over the next two years, the San Francisco Business Times reports.

As previously reported by this publication, the bank is pioneering a wealth management model and launching dedicated centers for its wealthy clientele where they can access a range of services in one place. The professionals staffing such centers come from the private client advisor, trust, private mortgage banking, business banking, and portfolio management sides of the business.

John Bahnken, senior executive vice president who oversees the firm’s wealth management division, reportedly said this week that the firm's volume of business with wealth clients doubled last year over 2011. Although Bahnken did not cite specific figures, he expects the wealth management business to double again this year, the report said.

The firm had not responded to a request from Family Wealth Report to confirm the details at the time of publication.

In March, Bank of The West continued its wealth management development plan by unveiling a new office in Beverly Hills to serve high net worth and affluent clients. It also promoted Edward Mora, who is responsible for leading the firm’s Orange County’s wealth management team, to senior vice president. 

 

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