hang out a shingle near his old Florida stomping grounds. J. Bradford Greer, who for 10 years ran Chase's private banking operation in Palm Beach, Fla., opened his own investment advisory firm, Greer Capital Management Co., less than a mile from his old employer. Pending state regulators' approval for a trust charter, Mr. Greer said he "plans to service the market niche that most money managers avoid: the market below $5 million in assets." Chase and other companies often overlook what's known as the "emerging affluent" market: individuals with less than $3 million in investable assets. Indeed, Mr. Greer's former boss, Chase private banking head James W. Zeigon, has said in the past "that's someone else's client." Joining Mr. Greer at the new firm is another former Chase banker, Peter Arps, who will be chief financial officer. Mr. Greer's experience with wealthy Florida clientele pre-dates his time at Chase. Before that, Mr. Greer was president of Northern Trust Corp.'s Palm Beach unit.
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