Bank of New York Co., through its trust unit, announced Tuesday that it will open an office in Boston for affluent clients and investment advisers.
The office is to house the company's Boston-based registered investment adviser, Gannett Welsh & Kotler, which manages about $7 billion of equity and fixed-income investments for high-net-worth people and institutions. Beacon Fiduciary Advisors, a Bank of New York affiliate and manager of more than $850 million for high-net-worth investors, is also to be based at the site and will be merged into Bank of New York Trust Co. NA.
William A. Flemer was named to head the Boston office with the title of managing director. For more than 25 years, he has lived in Boston and held senior posts at the former Bank of Boston Corp. and FleetBoston Financial Corp. before taking charge of business development for Bank of New York's private bank three years ago.
