Union Bank continues to build out its high-net-worth wealth management business in northern California.
In a significant recruiting coup, the bank lured two wealth professionals from City National Bank to the private bank as private wealth advisors.
Craig Muller, a former City National team leader, joined as a director, while Darrell Claridge, previously a City National private client advisor, joined as a vice president.
Both are based in Walnut Creek, California, and report to Lisa Roberts, head of Private Wealth Management for Northern California and the Pacific Northwest, the bank announced this week.
The two will work with high-net-worth clients with at least $3 million in investable assets and partner with specialists in various aspects of wealth planning, the bank said.
"These appointments are part of our expansion efforts in the Bay Area, where we continue to strengthen our team of top-caliber professionals," Michael Feldman, head of Wealth Markets, said in a statement.
While at City National, Muller was team leader of East Bay private banking, a role he held for more than 14 years, according to his LinkedIn profile. Claridge had been with City National since 2008.
The new recruits join five other private wealth advisors hired by Union since 2016.
Since Feldman joined the Wealth Markets group in June 2015, he has been pushing to expand the wealth management business, which includes Union's private bank as well as its brokerage unit, trust and estate business and HighMark Capital Management, the bank's asset management arm.
In an interview with Bank Investment Consultant last year, Feldman said the bank is looking to provide clients with integrated wealth management, lending and banking services. As part of that effort, he co-located private bankers and wealth advisors with portfolio managers, trust and estate advisors and other experts in major metropolitan areas within Northern and Southern California and the Pacific Northwest, where Union operates.
"More than ever, clients are looking to us for our expertise and advice to successfully navigate a complex and global marketplace," Feldman said.
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