US Trust, the private wealth management unit of Bank of America (BofA), has hired 12 new advisers in October.

A total of nine new advisers have been hired from outside of the firm whereas three more have been appointed from within BofA, reports Reuters.

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With these appointments, the number of advisers hired by the firm since August reaches 40, which includes 26 new adviser hires announced in mid-October.

The new advisers joined from US Bank, JP Morgan Securities and PNC Wealth Management, among others.

US Trust manages wealth for clients investing $1m or more in assets.

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