Union Bank of California intends to bring two of its investment management businesses under one roof.

The wealth management unit, with 13 private banking offices in California and the northwest US, will in future be part of the global markets group. Mary Curran, head of the wealth management division, will now report to Johannes Worsoe, head of global markets.

Mr Worsoe said: "We have made this strategic decision to greatly expand Union Bank's already sizable wealth management presence. By housing our private banking, personal trust, asset management and brokerage businesses under one integrated group, we now have the ability to further enhance our client facing teams and create a more seamless interface to our high net worth prospects and clients."