Louisiana-based IberiaBank is to launch a new division that focuses on trust and asset management activities.

IBERIA Wealth Advisors, the new company, is led by Jason Waters as senior vice president and managing director. He is joined by Jimmy Crocker as senior vice president and director of trust and Kevin Reed as senior vice president and director of wealth management.

Waters brings over 17 years of banking experience into the firm and was most recently the senior portfolio manager for Regions Bank in Alabama. Crocker was previously vice president and trust advisor also for Regions Bank, while Reed steps in from Whitney National Bank, where he was division executive for trust asset management and brokerage.

"With the formation of this business, we can offer our clients competitive wealth management solutions," said Jefferson Parker, the chairman and managing director for brokerage, trust and wealth management for Iberiabank.

The company is the second largest financial holding firm in Louisiana, with $10.4 billion in assets as of 30 June 2010. It has operations in 12 US states.