August 17, 2010

U.S. Trust Adds Wealth Management Executives in Northeast Region

New team joins from Barclays Wealth

U.S. Trust has appointed three executives to its northeast division, the firm announced Tuesday, August 17. Ray Schuville and George Jenckes will serve as private client advisors and Josh Glazer as a private client manager in New York. The appointments are part of the U.S Trust's strategic augmentation of its wealth management business in the northeast region.

"The northeast division is a very sophisticated and discerning market and has a deep concentration of wealth," Ann Limberg, northeast division executive, said in the statement. "Our clients are concerned about taxes, retirement and most importantly preserving their wealth. It is important that U.S. Trust has a team of advisors that can listen to clients and given them the advice and expertise needed to address their financial goals and concerns."

Collectively, the new team has some 50 years of wealth management and investment expertise, according to the announcement. The three men came on board from Barclays Wealth, which they joined in September 2008 as part of the Barclays acquisition of Lehman Brothers' Private Investment Management business in the Americas. Specifically:

? Schuville managed high-net-worth relationships at Barclays Wealth, coordinating investment management, fiduciary, wealth advisory and banking services for wealthy families, endowments and foundations. Earlier in his career, he gained both domestic and international experience at several firms including JPMorgan Chase.

? Jenckes managed relationships for high-net-worth families, endowments and foundations at Barclays Wealth, providing global investment strategy advice. He previously worked at J.P. Morgan Private Bank.

? Glazer focused on global investment strategy, including strategic and tactical asset allocation, within portfolios of wealthy families, endowments and foundations at Barclays Wealth.

In July, U.S. Trust appointed a new head of trading and an investment executive to the New York office and part of its strategic expansion in the northeast region.

Michael S. Fischer (msf7@columbia.edu) is a New York-based financial writer and editor and a frequent contributor to WealthManagerWeb.com.

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