U.S. Bank is staffing up to serve the ultra-wealthy in San Francisco.

The bank’s ultra-high-net-worth unit has hired four managing directors at its newly opened office there. Tom Crotty joined Ascent Private Capital Management as managing director of Financial Administration, a role equivalent to that of a “chief financial officer” for wealthy clients, the bank said in an announcement Monday. Before joining Ascent, Cotty was president of Montgomery Professionals, a San Francisco Bay area accounting and staffing firm.

Stephen Florance was named managing director of Investment Consulting and will work with clients to create customized investment portfolios. He was previously a managing director with Hall Capital Partners, where he held multiple roles with responsibility for managing portfolios and conducting research in all asset classes.

Sisi Tran joined the firm as managing director of Wealth Strategy responsible for advising families on wealth planning matters, including trust and estate planning, tax planning, multigenerational planning, family governance and risk management. She was previously with Convergent Wealth Advisors in Los Angeles as director of trust and estate planning.

Eric Stern, a former vice president of Morgan Stanley Private Bank, joined as managing director of Private Banking and will help clients with their private banking needs.

The new managing directors are supported by a national advisory team of more than 30 wealth experts who deliver wealth impact planning, financial administration and other client services in the Bay area, U.S. Bank said in the announcement.

The new hires follow the appointment in April of a regional managing director to lead the San Francisco office. In addition to San Francisco, Ascent has ultra-high-net-worth offices in Minneapolis, Denver, Seattle and Cincinnati.

Ascent defines ultra-high-net-worth clients as those with more than $50 million in net worth. It is part of U.S. Bank’s Wealth Management Group.

Read more:

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access