By recruiting financial advisers and expanding organically this year, Gibraltar Private Bank and Trust, a Coral Gables, Fla., unit of Boston Private Financial Holdings Inc., plans to recover the assets it lost last year as a result of difficult market conditions, according to the new managing director of its wealth arm.

Last year Gibraltar's assets under management declined 18.2%, to $900 million. Matthew A. Lapides, who was hired last month, said in an interview last week that he wants to increase wallet share with its customers by offering a more holistic array of services.

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