Investment and wealth management firm Glenmede has opened a New York office. The Philadelphia-based firm already has offices in Delaware, Ohio and New Jersey.

The new office will target high net worth families, endowments and foundations and institutional partners.

The firm has hired Glenn Switzer as a senior member of the New York team. He joins from US Trust/Bank of America Private Wealth Management where he led a team of 16 investment professionals and was responsible for client assets in excess of $1 billion. He will report to Howard Wilson, director of client services.

Al Piscopo, president and chief executive officer said: "We serve a national clientele. The increased interest we are experiencing from investors and industry partners in the New York area signals that this is an opportune time for us to establish an office."

Glenmede came into being 50 years ago as the investment manager and trustee of the Pew Charitable Trusts established by children of Joseph Pew, founder of Sun Oil, now Sunoco. Privately owned, it has nearly 1,700 clients and about $17 billion in assets under management.