Family Office
Former Mercantile exec Preston lands job with BofA
Ex-head of Baltimore bank’s private-client biz ups stakes for the
Big Apple. Bank of America’s private bank has named Margaret
Preston as market executive for New York City, charging her with
the responsibility of delivering wealth-management services to
high-net-worth individuals and families in the market.
Based in New York, she will supervise private-banking teams
that serve clients by providing trust and
wealth-transfer services, liquidity management, comprehensive
investments and credit solutions.
“Margaret will leverage more than 25 years of industry experience
in working with her teams to deliver the full capabilities of The
Private Bank and to tap the larger resources of Bank of America
for existing and prospective clients,” says Suzanne Sack, the
bank’s Northeast regional president. Sack cited Preston’s “vast
knowledge of the high net worth market and exceptional leadership
skills” as instrumental in the choice.
Preston joins the Bank from Baltimore-based Mercantile
Bancshares, where she was head of private-wealth management. She
was replaced in that role after four years by former Legg Mason
regional director and brokerage-unit board director Jeffrey
Durkee.
Preston has also worked for Deutsche Bank and Salomon Brothers.
–FWR
.
