First Interstate Bank has beefed up its trust and private client sales staff with the addition of four vice presidents, three of whom came from competitor Wells Fargo & Co.
The recent hires are an effort by the California banking company to recapture market share among affluent households.
First Interstate has lost some market share as a result of the inroads made by brokerage houses and other nonbank competitors, said Daniel J. Wroblewski, a senior vice president in charge of business development for First Interstate's trust and private client services.
Margaret M. Masterson has been named director of fiduciary services, overseeing trust and investment management in Orange County. Based in Newport Beach, Ms. Masterson will handle the personal trust and investment needs of high-net-worth clients, as well as charitable remainder trusts.
Karin Miller has joined the California banking company as a vice president, overseeing trust clients in several beach communities south and east of Los Angeles.
Enriquez G. Sanchez has been placed in charge of affluent clients in the San Diego area.
Carolyn Cox - the only one of the four hires not to come from Wells Fargo - will be serving trust clients in several communities east of Los Angeles. Previously, she worked for First Trust Bank of Ontario.
In the past two years, First Interstate, which managed about $40 billion in personal trust and institutional assets, has almost tripled its trust sales staff to 27 employees.