BIRMINGHAM, Ala. - AmSouth Bancorp has hired a trio of key executives for its wealth management business, which the banking company has been rebuilding since hiring Geoff von Kuhn, a former Citigroup and Bank One executive, last spring.
Mr. von Kuhn hired Joseph T. Keating as head of asset management, a new post. Mr. Keating joins AmSouth from Fifth Third Bancorp of Cincinnati, where he was chief market strategist and chief fixed-income officer.
"Joe has a national reputation and will be instrumental in our drive to build our investment advisory business," Mr. von Kuhn said in a press release.
Also added to AmSouth's wealth management business this week was Jeffrey P. Botsford, a former Bank of America private banking executive in Florida. He is to run the newly formed, 100-person private-client services group, which will include AmSouth's private bank, personal trust and institutional trust sales, and a new financial planning practice.
AmSouth also hired Michael C. Daniel as chief operating office of wealth management. He previously oversaw the mortgage specialized services operations in Dallas for Bank One Corp. Under Mr. von Kuhn, he will oversee the wealth management group's heads of operations and technology, finance and risk management.
Mr. Keating is to join the banking company Monday; the other two executives joined this month.
C. Dowd Ritter, chairman, chief executive, and president of the Birmingham, Ala., company, has said he wants to double the wealth management unit's profit, to $100 million, by 2003.
AmSouth's wealth management group includes a broker-dealer business, investment and trust services, private banking, and the bank's proprietary mutual fund family, AmSouth Funds. It targets wealthy customers with at least $250,000 of income or $500,000 of investable assets.
