SAN FRANCISCO, April 18, 2012 /PRNewswire/ -- Bank of the West has created a residential real estate financing team dedicated to serving affluent and high net worth clients on their personal real estate lending needs, including mortgages, home equity loans and home equity lines of credit.
As part of the bank's expanding wealth management offering, this team brings together in one integrated group professionals from all aspects of mortgage banking to focus on the real estate financing needs specific to affluent and high net worth individuals.
"By putting together these specialists, we're giving our wealth management clients a cohesive group that knows and develops solutions for financing high value properties, is experienced in reviewing complex personal financial information to make quick credit decisions, and understands the imperative to make the process work efficiently," said John Bahnken, head of Bank of the West Wealth Management Group and senior executive vice president. "Our clients' homes are an important part of their lives, not just their portfolios. So, we know they are looking for an experienced and focused partner to help them effectively navigate the home financing process."
Specifically, the team includes:
- Private mortgage bankers who specialize in providing advice for both conventional as well as larger and complex real estate financing transactions
- Product development professionals focused on creating a set of solutions to meet the needs of wealth management clients
- Dedicated underwriting professionals experienced in making complicated credit decisions quickly
- Loan processing staff focused on ensuring the required information gathering and funding details are handled smoothly and efficiently
"Clients need an experienced guide to help them understand their options and ensure their application process is smooth even when dealing with the complexities of this evolving market," said Karen Mayfield, senior vice president who leads the private mortgage banker distribution team. "Bank of the West has a long history of helping clients with their real estate financing needs, and we are excited to dedicate a team exclusively to our affluent and high net worth clientele."
Affluent and high net worth clients access the private mortgage banking team through the bank's wealth management private client advisors. At the center of the bank's wealth management client services model, PCAs serve as dedicated overall relationship managers, focusing on understanding each client's financial goals. With this comprehensive picture in place, PCAs bring together an integrated set of solutions as well as wealth management experts to address the range of financial issues affluent and high net worth clients face.
In addition to the creation of the private mortgage banking team, the bank continues its investments in its wealth management service model and capabilities, including the opening of additional dedicated wealth management client centers.
Bank of the West Wealth Management provides wealth planning, investment management*, personal banking, and trust services. The group is part of BNP Paribas' global wealth management business of more than 6,000 professionals worldwide with nearly $10 billion** in assets under management in the United States and $322 billion (euro 245 billion) in assets under management globally as of December 31, 2011.
About Bank of the West:
Founded in 1874, $62.4 billion-asset Bank of the West (www.bankofthewest.com), member FDIC and equal housing lender, offers a full range of personal, commercial, wealth management and international banking services. The bank operates more than 700 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 80 countries with nearly 200,000 employees.
Equal Housing Lender
Deposit and Loan products offered by Bank of the West. Member FDIC. Loans subject to credit approval.
Bank of the West Wealth Management provides financial products and services through Bank of the West and its various affiliates and subsidiaries. Neither Bank of the West nor BancWest Investment Services, Inc. offers tax, accounting, regulatory or legal advice to clients.
*Investments and variable annuities are offered through BancWest Investment Services, Inc., a registered broker/dealer, Member FINRA/SIPC. Financial Advisors and Private Client Advisors are registered representatives of BancWest Investment Services, Inc. Fixed annuities/insurance products are offered through BancWest Insurance Agency in California (License # 0C52321) and through BancWest Insurance Agency in Utah, and through BancWest Investment Services in AZ, CO, IA, ID, KS, MN, MO, ND, NE, NM, NV, OK, OR, SD, WA, WI, WY
BancWest Investment Services, Inc., is a wholly owned subsidiary of Bank of the West. BancWest Corporation is the holding company for Bank of the West. BancWest Corporation is a wholly owned subsidiary of BNP Paribas.
Investment, Annuity, and Insurance products are:
NOT FDIC INSURED • NOT BANK GUARANTEED • MAY LOSE VALUE • NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
** Including assets under supervision at BancWest Investment Services
SOURCE Bank of the West