Bank of America opens 3rd UHNW office in New York

FWR Staff

7 March 2007

Bank-based multifamily office expands outreach to ultra-wealthy families. Just weeks after opening an office in Houston, Bank of America's Family Wealth Advisors multifamily-office group has expanded operations in its New York home office with the creation of a third team dedicated to ultra-high-net-worth clients in and around Manhattan.

Important market

The new team of private bankers, wealth strategists and client-service professionals is led by Heather Kirby and Nina McElroy, both formerly with HSBC. The team will also include Tara Malloy and Richard Fuller as wealth consultants, and Shain Reece and Portia Hooks as relationship associates.

Family Wealth Advisors president Alan Rappaport says the private Bank of Bank of America had been working with wealthy families and business owners "for many years" before the Charlotte, N.C.-based bank launched Family Wealth Advisors in 2005 as an adjunct of its private bank. A new team for the New York area puts the group in a better position "to deliver customized, highly sophisticated products and advisory services in this important wealth market," he adds.

Jane Heller and John McGuinness lead the two other Family Wealth Advisors teams in New York. -FWR