Bank of America Private Bank has officially entered the Pittsburgh market, opening a new office downtown and bringing in a team of local wealth professionals.
While Bank of America has been active in the city for years, the move announced Monday is a first for its private banking division, which covers over 4,000 professionals across 42 US markets managing $640 billion in client balances as of mid-2024.
BofA Private Bank said its new office will be led by market executive Huma Mohiuddin, a Pittsburgh native with over two decades of experience in financial services. Mohiuddin previously served as director and Pittsburgh market president at BNY Wealth. Her career includes positions at JPMorgan, Northern Trust, and Morgan Stanley. In her new role, she aims to connect clients in Pittsburgh with Bank of America's broad range of global resources.
“The Pittsburgh market represents a significant growth opportunity for Bank of America, fueled by the strength of the city’s technology, healthcare, manufacturing, and education sectors,” Chris Biotti, northeast division executive for Bank of America Private Bank said in a statement.
Mohiuddin will be joined by several other experienced financial professionals. The initial team includes portfolio manager Ryan DeCaro, private client advisors Christie Dobis and Jonathan Smith, and private client manager Sarah Miller. All come from wealth management backgrounds at institutions such as BNY Mellon, Citizens Private Wealth, and PNC.
“Huma and the new team bring an exceptional commitment to the community and outstanding private client expertise,” Biotti said.
“I am thrilled to join Bank of America Private Bank alongside this esteemed team at such an exciting time in Pittsburgh,” Mohiuddin said. “Together, we will bring Bank of America’s comprehensive wealth management services and customized financing solutions to meet the needs of local private banking clients.”
The office opening in Pittsburgh is part of Bank of America's broader effort to grow its private banking services this year, which includes hiring an ex-Citi leader to drive growth in Miami and appointing two new co-heads of private client partnership development.
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