Popular Bank, the main operating subsidiary of Popular in the US, has launched a new service targeting its high net-worth (HNW) customer base.

The new offering, called Popular Trust Services, will form a part of the Popular Wealth Management and Private Banking Division.

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In June 2017, Popular Bank launched the Popular Wealth Management and Private Banking Division to consolidate its investments, insurance and national mortgage business sections under a single platform.

Since then, the business is said to have grown to around $325m in assets under management.

Popular Bank managing director of wealth management and private banking Matthew Ford said: “We are proud of the momentum and early success of Popular Wealth Management and Private Banking and are thrilled to provide these expanded capabilities to our clients.

“We have built and continue to supplement our infrastructure organically, customising the products and services offered to our clients to deliver a seamless and exceptional client experience.”

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Besides launching the Popular Trust Services, the bank has appointed Anthony Pasculli as its senior trust advisor.

Before joining Popular Bank, Pasculli was trust officer and managing director at a financial institution managing, where he managed more than $1bn in assets under management.

At Popular, Pasculli will be responsible for estate administration, trusts, charitable trusts, foundations, IRAs, investment management accounts and special needs trusts among others.