Bank of America names new head of US Trust

Katy Knox named president, replacing Keith Banks, who will become vice chairman of the global wealth and investment management unit.
OCT 02, 2017
Bank of America has named Katy Knox president of its U.S. Trust private banking business, replacing Keith Banks. Mr. Banks, who held the post since 2009, will become vice chairman of the global wealth and investment management unit, which encompasses Merrill Lynch Wealth Management and U.S. Trust. He also will continue as head of BofA's chief investment office and investment solutions group. Mr. Banks, who was appointed to that position in November 2016, joined BofA in 2004 following its acquisition of FleetBoston Financial. (More: See all the latest financial adviser moves in the InvestmentNews Advisers on the Move database) Ms. Knox has led business banking at Bank of America since 2014.

Latest News

Caprock expands Texas footprint with $4B Venturi acquisition
Caprock expands Texas footprint with $4B Venturi acquisition

Deal brings 10 advisors and deeper family office reach to Austin market.

Mariner aims to ‘break growth ceiling’ by deploying AI workforce of 700
Mariner aims to ‘break growth ceiling’ by deploying AI workforce of 700

Mega-RIA to adopt AI workforce at enterprise scale as firm rethinks growth without hiring.

Goldman leads wave of prediction market bans at financial firms
Goldman leads wave of prediction market bans at financial firms

As Goldman Sachs tightens rules on event contract trading, RIAs and hedge funds are weighing their own policies

Advisor moves: Baird recruits $600M veteran pair to director roles in North Carolina
Advisor moves: Baird recruits $600M veteran pair to director roles in North Carolina

Meanwhile, Wells Fargo lures defectors from UBS and JPMorgan to expand in the East Coast, while another bank aligns itself with RayJay's financial institutions division.

AI may be nudging some older workers into early retirement, study finds
AI may be nudging some older workers into early retirement, study finds

New research suggests AI-exposed workers over 55 are leaving jobs more often than before ChatGPT’s rise.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income