People Moves

Boston Private Bay Area CEO To Depart

Harriet Davies Editor - Family Wealth Report 15 October 2012

Boston Private Bay Area CEO To Depart

Boston Private Bank & Trust Company’s chief executive for the San Francisco Bay Area, James Garvey, is set to leave the firm by the end of the year, a spokesperson for the bank confirmed.

The bank is not replacing him as it has recently re-jigged its organizational structure. Specifically, the San Mateo-based bank was known until recently as Borel Private Bank & Trust Company, but was renamed in September as part of a consolidation which began last year.

In May 2011 Boston Private Financial Holdings announced it was consolidating its four private banks – which operate in the New England, Pacific Northwest, Southern California and Northern California markets - under one unified charter based in Massachusetts, and with the name Boston Private Bank & Trust Company. As part of this, Garvey's role is being eliminated.

Garvey said the firm’s plans to expand in the Bay Area remain under way, according to a report in the San Francisco Business Times. It made four senior appointments there earlier this month, adding investment and wealth planning professionals to its team.

For his part, Garvey reportedly said he is unsure about his next career move. He has been in the industry for 25 years.

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