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February 24, 2014updated 04 Apr 2017 2:29pm

Park Sterling Corporation expands wealth management team

Park Sterling Corporation has appointed three new bankers to the bank's wealth management team, which is headed by Michael Williams.

By Verdict Staff

Park Sterling Corporation has appointed three new bankers to the bank’s wealth management team, which is headed by Michael Williams.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The bank has also appointed Angela Ross as new chief marketing officer in Richmond.

Park Sterling has named George Meyls as senior vice president and head of private banking, while Russell Carter and Alan Smith will join the firm as trust advisors.

Based in Richmond, Meyls will have company-wide leadership responsibility for private banking across the company and develop this line of business in Virginia.

Prior to joining Park Sterling, Meyls, with 20 years of wealth management and private banking experience, most recently served as Private Banking Director at StellarOne Bank. Earlier to this, he has held several roles at Paine Webber, Smith Barney, and Wells Fargo Bank.

Carter has joined Park Sterling from Union First Market Bank in Richmond, where he served as trust advisor. Prior to this, he has served role at JP Morgan Chase, SunTrust Bank, and StellarOne.

However, Alan Smith who has joined Park Sterling as a trust advisor based in Charlotte, most recently worked with PNC Bank, where he was a relationship manager in wealth management and with Bank of America as a client manager. Ross has joined Park Sterling from StellarOne, where he served as chief branding officer. Previously, he has also held senior roles at La-Z-Boy and Circuit City.

James Cherry, CEO, said: "Our commitment to building a significant presence in Virginia is further demonstrated by the fact that company-wide leadership of Wealth Management, Private Banking, Mortgage Banking, and Marketing is all now based in Richmond, creating a solid foothold for growth in Virginia and throughout our footprint."

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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