U.S. Bank continues to ramp up resources dedicated to its high-net-worth business in Florida. In its latest move, the bank nabbed a 14-year veteran of Northern Trust Co. to serve as managing director for Florida and senior portfolio manager for the Private Client Reserve in Palm Beach, Fla.
Robert Stevenson will provide high-net-worth clients with integrated investment services, according to an announcement the bank released Wednesday.
At Northern Trust, Stevenson was a senior portfolio manager, where he worked with high-net-worth individuals, families and foundations. He also worked at SunTrust Bank of South Florida in the personal and corporate trust departments. He has more than 19 years of investment experience, according to U.S. Bank.
Stevenson is the latest in a string of new hires the Private Client Reserve has made in key Florida markets. In November, it added three industry veterans to its offices in Palm Beach and Naples. And last month, it announced that the Naples office would relocate to a larger office space in the upscale neighborhood of Mercato to accommodate growing business there.
The Private Client Reserve defines high-net-worth clients as individuals, families and foundations with more than $1 million in investable assets. It is part of U.S. Banks Wealth Management Group.