FWR understands that these joiners are not replacements, but additions to the team and part of an important investment by the US private bank.

Bank of America Private Bank has appointed three new market executives in the New York metro market.

Mary Chan, Chris Petro and Jeremy Sunshine will join the private bank’s leadership team, working closely with Geena Mayback, division executive, and Emily Dreas, managing director and senior market executive division head.

Family Wealth Report understands that these are not replacement roles; they are an important investment by BoA’s private bank. The trio are on gardening leave ahead of taking up their roles.

The joiners:
Chan will be joining from JP Morgan Private Bank where she was a regional managing director for New York and oversaw the integration of First Republic’s business in the market when the latter bank was taken over in an emergency transaction. Prior to this role, Chan led a First Republic team for 17 years.

Petro, who will join the bank in July, most recently served as head of Metro New York region for Citi Private Bank. Previously, he worked at JP Morgan’s Global Investment Opportunities Group that catered to the private bank’s largest and most sophisticated clients.

Sunshine, who joined the private bank last fall from JP Morgan Private Bank, spent the previous five years building out its Westchester, New York market. Prior to this role, he led a wealth management team for UBS in New York for 25 years.

In its latest earnings, Bank of America Private Bank had $671 billion in client balances and earned $997 million in quarterly revenue.