Bank of America Completes U.S. Trust Acquisition

Bank of America has completed its acquisition of U.S. Trust Corporation, creating U.S. Trust, Bank of America Private Wealth Management – the leading private wealth management organization with nearly $265 billion in assets under management and over $427 billion in total client assets – and announced the appointment of Philip White as the organization’s market executive for Northern Texas and Oklahoma.

In this role, White is responsible for leading U.S. Trust’s efforts in delivering comprehensive wealth management services and advice to wealthy and ultra wealthy individuals and families throughout the greater Northern Texas and Oklahoma area, including offices in Dallas, Tyler, Oklahoma City and Tulsa.

White will oversee U.S. Trust teams that serve the complex needs of clients by providing an integrated approach to trust and wealth transfer services, liquidity management, comprehensive investments and credit solutions. White will report to Central Division Executive Tim Maloney.

As a further result of the acquisition completion, the investment management business of Bank of America and legacy U.S. Trust are being integrated within Columbia Management, Bank of America’s asset management organization. Additionally, the alternative investments groups of both companies are being combined, offering clients expanded solutions in this area.

Was this article helpful?

Related Articles

Leave A Comment?