U.S. Trust Names Thong Nguyen as West Division Executive and Chris Heilmann as Fiduciary Solutions Group Head

Feb 03, 2010, 12:00 ET from U.S. Trust, Bank of America Private Wealth Management

NEW YORK, Feb. 3 /PRNewswire/ -- U.S. Trust, Bank of America Private Wealth Management, one of the leading private wealth management organizations in the United States, today announced that it has named two senior executives to key leadership positions in the organization.

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Thong Nguyen has been named as West Division Executive to lead the firm's offices in California, Arizona, Nevada, Oregon and Washington. Nguyen will be based in San Francisco and will report directly to Keith Banks, president of U.S. Trust, Bank of America Private Wealth Management. Nguyen was most recently head of Fiduciary Solutions, leading trust, tax, estate and fiduciary organizations for Bank of America's Global Wealth & Investment Management (GWIM) division.  

Chris Heilmann has been named head of the Fiduciary Solutions Group, the position previously held by Nguyen. Heilmann was most recently National Fiduciary Executive for U.S. Trust®. He will be based in New York.  

"U.S. Trust has been the private bank and trusted advisor to generations of America's wealthiest families and individuals for more than 200 years.  We continue that tradition by bringing two of the most talented executives in the wealth management business to these important roles in our organization," said Banks.  "Our clients and client service teams in the West will benefit tremendously from Thong's strong leadership and knowledge of the needs of high-net-worth clients.  Chris is highly respected as a leader in the industry who understands how to balance aggressive business growth with rigorous fiduciary risk management."

Nguyen has served in a number of critical roles since joining Bank of America in 2003, including head of Private Advisory Services (Investments) and head of GWIM Marketing and Business Development. He also created and managed the Emerging Wealth group, leading the growth of discretionary investment management and trust assets for affluent clients. As he takes on his new assignment, he will continue to play a key role in firm-wide strategic initiatives. Additionally, he will remain an active member of Bank of America's Global Diversity & Inclusion Council.

Heilmann brings more than 37 years of trust and private banking experience to this new role. Previous to the Bank of America and Merrill Lynch merger he was chairman and CEO of Merrill Lynch Trust Company. Before that, he spent more than 25 years at Fleet Financial Group in Boston where he had been an executive vice president and senior manager of FleetBoston Financial Corporation's Fiduciary Services Group.

U.S. Trust, Bank of America Private Wealth Management

U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization in the United States providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients can also benefit from access to resources available through Bank of America and its affiliates - including capital markets products, large and complex financing solutions, and its extensive retail banking platform.

Clients are served by highly experienced advisors who provide a range of specialized family office services, including investments, single-stock management, integrated planning, philanthropic management, succession planning, specialty asset management, financial administration, compliance and family stewardship.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company's corporate and investment banking, and sales and trading businesses operate under the Bank of America Merrill Lynch brand. Bank of America Merrill Lynch focuses on middle-market and large corporations, institutional investors, financial institutions and government entities. It provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, research, and liquidity and payments management. Bank of America Merrill Lynch serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and nearly 96 percent of the Fortune Global 500.

U.S. Trust, Bank of America Private Wealth Management operates through Bank of America, N.A., a wholly owned subsidiary of Bank of America Corporation.

Bank of America, N.A., Member FDIC.

SOURCE U.S. Trust, Bank of America Private Wealth Management