Glenmede Trust Co. in Philadelphia has announced that it will open a New York City office and that it hired Glenn Switzer to be a senior member of its New York team as a first vice president and portfolio manager.

The New York office is to serve high-net-worth families, endowments and foundations and institutional partners in the tri-state New York area, the company said on Monday. It already has offices in Pennsylvania, Delaware, Ohio and New Jersey.

Switzer was a managing director and senior portfolio manager at U.S. Trust/Bank of America Private Wealth Management where he was responsible for more than $1 billion of client assets. He is to report to Howard E.N. "Chip" Wilson, Glenmede's director of client services.

Glenmede has $17 billion of assets under management.

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