New Office

Boston Private Continues Its California Expansion

Harriet Davies Editor - Family Wealth Report 20 February 2013

Boston Private Continues Its California Expansion

Boston Private Bank & Trust Company continued its expansion in the San Francisco Bay and Los Angeles areas, unveiling new office plans.

The plans encompass two new offices in San Jose and Pasadena, which together will double the size of the bank’s office space in San Francisco, and a recently-opened office in Westlake Village.

The offices will provide deposit and cash management; commercial lending; residential mortgage; and investment management, wealth advisory and trust services. They will work with individual, business, private partnership and nonprofit clients.

“Our brand and our business in California continue to build positive momentum warranting this expansion,” said Mark Thompson, chief executive and president of Boston Private Bank & Trust Company.

The bank’s Bay Area presence covers Burlingame, Los Altos, Palo Alto, San Francisco, San Jose and San Mateo. In Los Angeles it has offices in Burbank, Encino, Granada Hills, Pasadena, Santa Monica and Westlake Village.

In related news, the firm’s chief executive for the San Francisco Bay Area, James Garvey, left at the end of last year. The bank said it was not replacing him as it had recently re-jigged its organizational structure.

In December the firm announced it was selling its three Pacific Northwest offices to Sterling Financial Corporation, based in Spokane, WA.

Clayton Deutsch, chief executive and president of Boston Private Financial Holdings, the bank's parent firm, said the move will allow the firm to concentrate its private banking resources in New England, the San Francisco Bay Area and Southern California - two of the three deepest concentrations of high net worth clients in the US, he said.

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