U.S. Trust hires five wealth management execs

NEW YORK, Dec 20 (BestGrowthStock) – U.S. Trust, a private banking
unit of Bank of America (BAC.N: ), said on Monday it hired five
veteran wealth managers and portfolio managers to bulk up its
capabilities in California and the New York City area.

The hires are the latest in what has been an aggressive
campaign to offset an earlier wave of departures and increase
its ranks of advisers for ultra-wealthy families.

U.S. Trust said it hired Chad Reddy of City National
(CYN.N: ) as its Northern California regional trust executive in
San Francisco, portfolio manager Barbara Bagley in Century
City, California, where she had been a portfolio manager for
Beverly Hills boutique Lewis Capital Management.

JPMorgan Private Wealth Management’s Cornelius Mercea
joined as a portfolio manager in Tucson, Arizona.

The bank also added Judy Slotkin, a private wealth
management executive for the New York City region. She was most
recently chief risk officer for Everspan Financial Guaranty, a
unit of Ambac Financial Group. (ABKFQ.PK: )

U.S. Trust added Charles “Hill” Ewald, a private client
consultant in Charlottesville, Virginia. Ewald most recently
was chairman of VNBTrust after some 20 years as a private
client manager in Bank of America’s private bank.
(Reporting by Joseph A. Giannone, editing by Matthew Lewis)

U.S. Trust hires five wealth management execs