Cleveland, OH-based The Private Trust Company has made two senior hires, with more to follow, as it works with its parent firm LPL Financial Holdings to expand its high net worth offering.

Jack Keane joins as vice president, finance and administrative officer, while Carolyn Neuner starts as an assistant vice president and trust officer. The firm plans to take on additional trust officers in 2013.

Neuner is responsible for trust accounts and wealth management clients, providing guidance related to the implementation of estate plans for intergenerational HNW clients. Prior to joining PTC, she served as vice president of personal trust administration at TIAA-CREF Trust Company. Before that she held numerous senior trust and leadership roles at Bank of America, most recently as a senior vice president and team leader. 

Keane is latterly of National City Corporation, where he was chief financial officer for its institutional asset management division.

“The trust and estates sector is witnessing a significant evolution as clients increasingly opt to work with independent advisors who can bring flexibility and customization to the management of trust assets,” said Bethany Bryant, president of PTC. “Today’s HNW clients with intergenerational estate planning needs don't want one-size-fits-all products or a limited universe of wealth management funds.”  

Bryant also cited Cleveland's "considerable base" of intergenerational wealth, making the area an ideal environment in which to grow the business. Meanwhile, the firm said it is also investing in its technology platform, working with local RIAs and LPL, including Fortigent and Concord Capital Partners.

PTC provides trust administrative services for over $935 million in individual and family assets. It also serves as a custodian for $74 billion in IRA assets.