First Citizens Bank announced a new leadership structure for its wealth organization, as Michael Wilson, who has overseen the growth and expansion of First Citizens Wealth for a decade, is assuming the additional leadership responsibility for SVB Private, a private banking and wealth management business that came to First Citizens through its recent acquisition of Silicon Valley Bank.
New assignments within the combined organization will include:
“First Citizens has built one of the industry’s leading wealth management teams by leveraging our relentless client focus and a relationship-oriented business model,” Hope Holding Bryant, First Citizens’ vice chairwoman and the lead executive for its general bank, which includes the wealth group, said. “With our acquisition of SVB Private, it is logical and appropriate to bring our wealth and private banking activities together under a unified leadership structure. I am confident this approach will accelerate our ongoing efforts to support institutions, families and individuals with the personalized service and resources they need to grow, manage and preserve their wealth.”
“I am truly excited and honored to lead this exceptional group of talented professionals,” Wilson, who now oversees about 900 associates helping manage more than $50 billion for clients, said. “Our objective is always to put clients first with the high-touch, personalized customer service that has long been our hallmark. Between First Citizens Wealth and SVB Private, the resources and capabilities we have to support clients are second to none. We have never been better prepared to deliver the wealth planning and services our clients need to become financially successful.”
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