Family Office
BB&T Corporation appoints new wealth unit leader
Southern super-regional seeks to hone wealth teams. Financial
holding company BB&T Corporation has named Mark Wenick head
of its wealth managment unit. He succeeds Steve Wiggs, who has
moved over to lead BB&T's marketing efforts.
Wenick has been with BB&T Wealth Managment since the group's
formation in July 2003. That's when BB&T combined its
personal trust and private financial units, says Kelly King, the
Winston-Salem, N.C.-based company's chief operating officer.
"[Mark is] a great choice to succeed Steve and manage the
division through the next steps in its evolution as the source
for high-touch service for our valued affluent clients" King
adds.
Ken Miller, who oversees BB&T's fee-based business lines,
says Wenick is a gifted relationship manager and who also grasps
the challenges "we face in becoming the wealth management
provider of choice." Chief among those is the challenge of
helping to turn skilled and experienced staff into members of
effective client-centered teams.
And BB&T sees the effective coordination of its wealth teams
as vital to its success as a high-net-worth player in an 11-state
footprint that extends from Florida northwest through Indiana and
up the Eastern Seaboard as far north as Maryland. "Affluent
clients are often busy people who don't have the time to work
with one person for trust services, someone else for financial
planning and investment advice and someone else for traditional
banking," says Wenick. "At BB&T, we simplify the delivery to
the client through a capable, credible and trusted wealth
management advisor who [coordinates] all of their financial needs
and provide our highest level of service."
Comprised of 30 regional wealth-management teams, Wenick's
division manages $10.2 billion in client assets. It caters to
individuals and families with between $1 million and $5 million
to invest, or with a net worth of at least $2 million. Its client
base includes owners of closely-held businesses, senior corporate
executives and professionals. -FWR
(People articles mark appointments and personal milestones in the wealth management arena.)