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FNB Expands Wealth Services for Ultra-Rich
12 Aug
Summary
- FNB launches F.N.B. Private Family Wealth for multigenerational needs.
- New unit offers investment, tax, and succession planning services.
- Benjamin Ciocco and Frank Aloi appointed to lead the new division.
F.N.B. Corporation has expanded its wealth management services, launching F.N.B. Private Family Wealth to cater specifically to ultra-high-net-worth clients. This new structure is geared towards addressing intricate, long-term financial planning requirements across generations.
The division will provide comprehensive support in areas such as investment management, alternative assets, wealth preservation, and intergenerational transfer. Clients will also receive assistance with tax planning, succession matters, and advisory work through FNB's Investment Banking division.
To spearhead this expansion, FNB has appointed Benjamin Ciocco as director of family wealth and fiduciary services and Frank Aloi as chief market strategist for family wealth. Both bring extensive experience in wealth management to their new roles.
FNB's CEO, Vincent Delie, highlighted that this elite wealth advisory office will offer tailored guidance and comprehensive solutions for clients with complex financial needs, enabling them to achieve their goals and create value across generations. F.N.B. Corporation boasts total assets of $51 billion and operates over 355 banking offices.
