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Guaranty Bank Creates HNW Wealth Management Group With Deal
Harriet Davies
6 June 2012
Guaranty Bank and Trust, a Colorado-based community bank, has signed an asset purchase agreement with Private Capital Management, a privately-held wealth management firm in Denver, CO, for an undisclosed sum. PCM, which works with high net worth individuals and families, will become Guaranty Bank and Trust’s wealth management group, operating as a distinct division. Meade will serve as president and there will be no changes to the firm's investment process, financial planning or advisory services, Guaranty Bank said in a statement. Furthermore, all staff will stay on and it will remain in the same location. Thomas Meade founded PCM around a decade ago, after having been president of Fidelity Brokerage Services; president and chief operating officer of Kemper Securities Group Holdings; and chairman, president and chief executive of Boettcher & Co. The transaction is expected to close in the third quarter 2012, subject to regulatory approval.