Fieldpoint Private Bank & Trust has named John Palazzetti as the company’s Director of Private Banking & Advisory, who also will serve as President of the institution’s Fieldpoint Private Securities.
According to the firm, Mr. Palazzetti will oversee the firm’s branch expansion while leading the recruitment of Membership Executives who manage individual Members’ Private Banking, Wealth Management, Business Banking, Family Office and Trust Services.
Fieldpoint Private reported that it seeks to announce a third and fourth location in the United States later in 2011 or early 2012, as it officially opens the new offices of its current New York City branch at 400 Park Avenue during the fourth quarter of this year.
According to Robert S. Matthews, Fieldpoint Private’s President & CEO, Mr. Palazzetti will serve as the Director of Private Banking and Advisory, and will have primary responsibility for the build-out, supervision and structuring of the Fieldpoint Private branch system including sales, recruiting, operations, staffing, professional development, compensation, and expansion planning for the two current locations of Fieldpoint Private (Greenwich headquarters and its New York City office), as well as future locations. Mr. Palazzetti also will have direct responsibility for the recently acquired Broker Dealer announced last month, as it becomes part of the Fieldpoint Private Securities affiliate.
The announcement was made by President & Chief Executive Officer Robert S. Matthews, who said, “John’s work at Morgan Stanley Smith Barney and Merrill Lynch has been marked by success at every stage. In helping to lead Morgan Stanley Smith Barney’s branch network, as well as managing branches in New York City, Boston and New Jersey, Palazzetti consistently ranked among the top 10 branches in various performance metrics, including assets under management and account loyalty.”
“He engenders loyalty, understands the value of relationships, believes in the importance of leading with intellectual capital, and is the perfect choice to serve Fieldpoint Private’s Members in the ultra-high net worth community,” Matthews said. “John has distinguished himself as an Advisor, Branch Office Manager, Chief Administrative Officer, and Head of Professional Development.”
Most recently, Mr. Palazzetti served as Managing Director and Director of Professional Development with Morgan Stanley Smith Barney, where he helped to develop the firm’s field management, Financial Advisors and Home Office employees. He also was a member of the company’s Executive Management Committee and Wealth Management Operating Committee. Previously, he served as Chief Administrative Officer at Smith Barney, where he oversaw the Private Client Retail Branch System.
Mr. Palazzetti began his career in 1987 as a Financial Advisor at Merrill Lynch. He earned his Bachelor degree in Business Administration from Pace University. A resident of New Jersey, Mr. Palazzetti initially will work from Fieldpoint Private’s office in Greenwich, and subsequently in the firm’s New York City office.
About Fieldpoint Private Bank & Trust
Fieldpoint Private Bank & Trust (www.fieldpointprivate.com), located in Greenwich, Connecticut, is a boutique financial firm providing the highest degree of personalized, confidential wealth planning and private banking services. Catering to highly successful individuals, families, businesses and institutions, Fieldpoint Private offers a powerful combination of Wealth Management and strategy, Family Office, Private Banking and Business Banking services addressing every financial need for each of our Members including: Wealth Transfer Advice, Tax Planning, Aggregation and Performance Reporting, Risk Management, Goals-Based Investing Strategies, Sophisticated Investment Selection, Discreet and Personalized Banking, Highly Customized Credit Solutions, Custom Custody and Trust Solutions, Highly Attentive/Responsive Service and Concierge Services.
Fieldpoint Private Bank & Trust was established in 2008 by 31 Founders with a specific vision and purpose. These extraordinary leaders of industry and community recognized the opportunity to create a financial firm totally attuned to people’s individual circumstances. Our firm is built on a philosophy of exclusive Membership and client-centricity. Working with a limited number of relationships gives every person the experience of belonging to an extremely selective group. The result is a new breed of institution established on the basis of personalization, responsiveness, and exclusivity, and an ensured commitment to impeccable service and consistently flawless execution. Our Member-oriented service approach offers a unique client experience custom crafted to each Member’s financial needs.