The new Florida office is the firm's fifth operation across the US.

US-based Evercore Wealth Management has opened a new office in Palm Beach, Florida.

The firm has also appointed Aldo Palles as a managing director and portfolio manager, and Ross Saia as managing director and wealth and fiduciary advisor in the new office, it said in a statement.

The Palm Beach office is the fifth operation for Evercore, which has bases in New York, Minneapolis, San Francisco, and Tampa.

Palles and Saia join Evercore from US Trust. Previously, Palles was a managing director and senior portfolio manager, and Saia was a senior vice president and senior trust officer. 

They will serve families, foundations and endowments in the Palm Beach area, as part of the Evercore Wealth Management national team, and will report to Michael Cozene, a partner at the firm and co-manager of the Florida offices.

Evercore Wealth Management, a subsidiary of Evercore, serves high net worth families, endowments and foundations, delivering customized investment management, financial planning, and trust and custody services. The firm manages $7.7 billion in client assets as of June 30, 2018.