BofA Private Bank Nabs $7B Advisor Duo in Florida

By John Manganaro

News November 22, 2024 at 06:03 PM

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Bank of America Private Bank has recruited a pair of high-net-worth specialist wealth advisors from Citi Private Bank.

Phillip Edwards and Lauren Stuhmer are joining the firm’s office in Palm Beach, Florida. While at Citi, they oversaw $7 billion in client balances.

At Bank of America, Edwards and Stuhmer will be responsible for providing wealth management services to ultra-high-net-worth families in Southeast Florida, including support with investing, philanthropy, credit management and financial planning.

Before his tenure at Citi, Edwards worked as a senior banker at J.P. Morgan and a senior portfolio manager for a multi-family office. Stuhmer, who holds the CFP designation, also previously worked at J.P. Morgan, as well as Deutsche Bank.

Woodward Middleton, a Southeast Florida market executive at Bank of America Private Bank, said in a statement that the hires will strengthen the firm’s presence in the Southeast and help to meet the wealth creation and transfer needs of clients.

Bank of America Private Bank manages $667 billion in client balances as of Sept. 30.

Credit: Bloomberg

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