Bank of America Corp.'s global wealth and investment management division announced Tuesday that it has doubled, to eight, the number of regional teams serving high-net-worth clients, in order to bring senior leadership closer to major U.S. wealth markets.
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The client teams in the Private Bank of Bank of America, often comprising client managers, portfolio managers, trust officers, and wealth strategists, are to continue reporting to the organization's leadership in each market, the company said.
The private bank, which is part of the global wealth and investment management division, had $164 billion of assets under management at June 30.
