U.S. Trust, a private banking unit of Bank of America, continued last year’s hiring spree on Monday as it added five financial advisers in Chicago and Texas.
The New York-based unit added Lisa Adelstein as a private client adviser in Chicago as well as Jay Bartley and Elizabeth Elgie as advisers in Fort Worth, Texas. U.S. Trust also added adviser Jason Garcia in Dallas and Michael Rogala in Houston.
Adelstein, a 30-year veteran of the business, had been a top private banker in Chicago for Citigroup’s (C.N) private bank. Bartley and Elgie, both with 25 years of experience, join from Dallas-based Comerica (CMA.N).
Garcia had been a wealth strategist for Northern Trust (NTRS.O), while Rogala had been an adviser with the independent-broker network LPL Financial.
One of the country’s largest advisers to the very rich, U.S. Trust hired dozens of portfolio managers and financial advisers in the past year, partly to make up for lost ground. Bought and sold twice in six years, the private bank suffered defections as Bank of America reeled from the 2008 financial crisis and as its parent acquired another wealth manager, Merrill Lynch.
