Sabadell Bank & Trust, the wealth management unit of Miami-based Sabadell United Bank, has opened an office in Naples.  

The new branch is led by Scott Kellett, who had been part of Lydian Private Bank since 2010, shortly before it was acquired by Sabadell. Before that, he was the chief executive of Bank of Florida Trust & Co.

Sabadell took over the operations of Lydian Private Bank in August after the latter was seized by the Federal Deposit Insurance Corporation, effectively boosting Sabadell's assets under management by around $1.6 billion. With the acquisition, the company said that it intends to expand its private banking and wealth management business further. (See related story here.)

Sabadell Bank & Trust has 29 branches throughout Florida and records around $3.67 billion in assets under management as of 30 September 2011.