Private Bancorp of America, the parent company of San Diego Private Bank, has unveiled plans to launch Los Angeles Private Bank, a division of San Diego Private Bank, in Beverly Hills by mid-2017.

The new branch will offer customised financial solutions to high net worth individuals, professional firms as well as and businesses of all sizes.

San Diego Private Bank director Richard Smith said: “West Los Angeles is one of the premier Private Banking centers in the country. The team that has been assembled is steeped in exceptional customer service and creative financial solutions.”

San Diego Private Bank already has offices in Coronado, San Diego, La Jolla and Newport Beach.

Private Bancorp of America and San Diego Private Bank president and CEO Thomas Wornham said: “The expansion of our unique franchise in West LA is consistent with our focus on Coastal Southern California markets, where clients appreciate complex and creative funding solutions and value an exceptional personal service experience.

“We are very fortunate to have the opportunity to partner with Richard Smith and his team of seasoned financial professionals.”

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By GlobalData