Webster Bank has filled a key role in the build-out of its wealth management business. It has named a former executive of Wells Fargo Private Bank senior vice president and director of Fiduciary Services of Webster Private Bank.
Timothy Throckmorton will oversee and help grow the personal trust and estate administration business. He will also play an important role in the design and implementation of enhancements to the private banks investment management and fiduciary administration platform, according to Websters announcement on Tuesday.
Throckmorton previously served as chief philanthropic officer for Wells Fargo Private Bank in Doylestown, Pa. Prior to that, he was a philanthropic market executive at Bank of America Merrill Lynch and chief trust officer at Merrill Lynch Trust Company in Pennington, N.J. He also served as vice president at U.S. Trust in Stamford, Conn, and was a trusts and estates partner at law firms in New Canaan, Conn.
Tim brings two decades of experience as a senior fiduciary banker and lawyer to our already strong and growing private bank team, Dan FitzPatrick, the head of Webster Private Bank, said in a statement.
The new hire follows the appointment of Yves Cochez as chief investment strategist of Webster Private Bank in May. Both positions are key to the expansion of the private bank, FitzPatrick told Bank Investment Consultant in December.
Webster Private Bank provides banking, investment management, financial planning and fiduciary services to individuals, business owners and institutions with at least $1 million in investable assets.
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