US-based community bank, Capitol Bancorp, has formed a wealth-management subsidiary that will be based in Charlotte. The bank has hired ...

US-based community bank, Capitol Bancorp, has formed a wealth-management subsidiary that will be based in Charlotte. The bank has hired Robert Hogan as president and chief executive of Capitol Wealth Advisors. He joins the firm from Banc of America Securities, where he was managing director and chief operations officer. Prior to Banc of America Securities, he was an executive at Salomon Brothers and PriceWaterhouseCoopers. Capitol Wealth Advisors will serve customers from Capitol Bancorp's network of community banks. Those services include investment management, brokerage, insurance, trusts and estate and tax planning. Capitol Bancorp's 42 member banks have $3.5 billion in assets. They include First Carolina State Bank in Rocky Mount and Community Bank of Rowan.