Then rivals started poaching U.S. Trust producers in key markets such as Palm Beach, Florida.
Now BofA has decided to take the U.S. Trust brand slightly downmarket by changing its name to the following mouthful: “U.S. Trust, Bank of America Private Wealth Management.” Snappy!
Is it too soon to predict that this deal might not go well? . . .
Tom Brown is head of BankStocks.com