Florida-based Gibraltar Private Bank and Trust has appointed Matthew Lapides managing director of its wealth arm.

In this post Mr Lapides is to oversee investment implementation, client relationships, and business development, the firm said. He succeeds Frederick Sandstrom who is retiring from the role but remaining with the company as a senior advisor.

Mr Lapides was previously resident director and wealth management advisor at Merrill Lynch & Co in

Miami, where he ran overall operations and gave clients asset management, risk management, and financial planning guidance.

Gibralter Private Bank and Trust is part of the Boston Private Wealth Management Group, a wealth management firm that provides private banking, investment management and financial planning services to high net worth individuals, their families and businesses.