Two US commercial banks already this month have earmarked Orange County for new wealth office openings – a recognition of the high net worth client potential in this southern Californian region. Comerica Bank announced the opening of three banking centers in Lake Forest, South Huntington Beach, and Brea by April 1 – all towns located in Orange County. Meanwhile Bank of America’s wealth management and private banking group is set to add another location in addition to its Costa Mesa branch in Orange County, according to a local news report. In a statement David White, Comerica’s Southern California regional president said the bank is expanding its presence in several growth markets in California, especially in Orange County. In early 2004 there was one Comerica Bank location in Orange County, said Mr White, and now with the addition of these three new offices, there will be 11. Bank of America considers Orange County among its top 10 markets in the US, Kim Burdick, head of the premier banking and investment group for Southern California, said in a report. “We expect to continue to grow in OC, perhaps at a faster rate than the rest of the nation,” he said. According to the report, a year ago, rival bank and wealth management firm, Wachovia, also bought a 72 per cent stake in Newport Beach-based Metropolitan West Capital Management for an undisclosed amount. Comerica manages around $58 billion worth of assets and has a presence predominantly in Michigan, California, Texas, Florida and Arizona. Bank of America set up a Newport Beach hub for its private wealth and investment arm, which also serves Los Angeles, San Diego and the Inland Empire. BoA has around 150 wealth management offices in the US and around $230 billion in private client assets, according to estimates.