Steiger will launch the unit’s wealth management business in New York City and oversee the development of the Boston, New York and Washington, DC corridor, as well as growth in Florida.  Currently the footprint of the Private Client Reserve unit, which caters to investors with a minimum of $1 million in investable assets, spans for the most part from the Midwest to the West Coast.

A 30-year industry veteran, Steiger spent 20 years at Neuberger Berman where she ran its private client business. Most recently, she was an advisory director at Berkshire Capital Securities and ran her own consultancy, Topridge Associates. Previously, she was president of Lowenhaupt Global Advisors.

“Heidi brings an immense amount of wealth management experience to our leadership team, including more than 30 years in the financial services industry,” said Michael Boardman, president of the Private Client Reserve. “Heidi’s strong strategic background and knowledge of our industry will add tremendous value as we continue to grow from coast to coast as a national wealth management firm.”

Steiger, who reports to Boardman, will split her time between the bank’s New York City and West Palm Beach offices.

The Private Client Reserve unit has 43 offices in 18 states with $33.5 billion in assets under management.

The hire is the latest move by the bank to grab a bigger piece of the wealth management pie. Earlier this year parent US Bancorp announced plans to launch a high net worth wealth management unit for clients with more than $25 million in investable assets.