The new practice will be co-lead by Rodney Whitwell, executive vice president and chief operating officer and David Bagatelle, executive vice president and New York City Metro Market president.
Whitwell said that Provident Bank has provided clients with wealth management products and services through third party and affiliate providers and will continue to do so. This new practice is an expansion with resources designed to provide a wealth management options to the growing client base.
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The company has named Brahna Singer as wealth management sales manager, who will be responsible for building the retail wealth management program and managing the staff of financial and wealth advisors.
With over 25 years of experience managing wealth management programs, Singer most recently served as national sales manager for Banco Popular North America’s Popular Investment division. She has held multiple positions throughout her earlier career.
Michael Desmond has joined the bank as senior wealth management advisor, responsible for the wealth management platform for the New York City Metro market. He will draw on his wealth advisory background to create and implement customized solutions for the bank’s clientele focusing on the middle market and business clients as well as the owners, senior managers, and employees of those businesses.
Desmond has over 20 years in wealth management and most recently served as managing director, Wealth Management for Herald National Bank, where he helped build the wealth management platform.
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By GlobalDataAlong with the launch of Wealth Management Services, Provident Bank has also reached an agreement in principle pending final contract with LPL Financial as broker-dealer to provide wealth management services to support the financial and wealth advisors. The agreement is likely to be finalized by August of this year.
