F.N.B. expands family wealth services for UHNW clients
F.N.B. Corporation has widened its wealth management services for ultra-high-net-worth clients by adding more specialised advisory capabilities and related financial solutions.
The new structure, operating as F.N.B. Private Family Wealth, is intended to address long-term and multigenerational financial planning needs.
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To head the business, FNB has appointed Benjamin Ciocco as director of family wealth and fiduciary services and Frank Aloi as chief market strategist for family wealth.
According to the company, the broader service has been made possible by FNB’s recent growth.
It is designed to provide support in investment management, alternative assets, wealth preservation, intergenerational transfer, tax planning, succession matters and advisory work through FNB’s Investment Banking division.
The unit will also help clients access other parts of the bank’s offering, including private banking, mortgage and insurance, as well as digital banking tools.
Ciocco will manage the bank’s fiduciary, estate and family wealth advisory activities. He has more than 15 years of experience in fiduciary and wealth management roles.
In earlier positions, he led teams focused on serving ultra-high-net-worth clients with wealth planning services.
Aloi will cover private markets, real assets, hedge fund approaches and other investment options for ultra-high-net-worth families and business owners.
He has more than 35 years of experience in wealth management and holds chartered financial analyst and chartered market technician designations.
F.N.B. Corporation and its largest subsidiary, First National Bank CEO, chairman and president Vincent Delie said: “This elite wealth advisory office is a valuable resource for clients whose complex financial needs require tailored guidance and comprehensive solutions.
“Coupled with FNB’s sophisticated capabilities, our team brings specialised experience and perspective that enables this niche client base to achieve their goals and create value across generations.”
The bank has total assets of $51bn and operates more than 355 banking offices.
