New West Palm Beach office serves high-net-worth clients throughout
Florida
WEST PALM BEACH, FL, April 7, 2015 /PRNewswire/ - Atlantic Trust, the U.S. private wealth management division of CIBC (NYSE: CM) (TSX:
CM), today announced it has expanded into Florida with the opening of
an office in West Palm Beach.
"We are very pleased to announce the opening of our office in Florida,
one of the most important wealth markets in the U.S.," said Jack
Markwalter, chairman and CEO for Atlanta-based Atlantic Trust. "This
strategic move is part of our ongoing plan to expand our business into
key wealth markets throughout the nation while continuing to deliver
the high-quality customized service that our clients expect and
appreciate."
Managing Director Brent Fykes, CFA, CFP® serves as head of the Florida
office. Fykes has almost two decades of experience working with
affluent and high net worth clients, managing their wealth and
providing services in investment management, retirement and estate
planning. Worth magazine named him among the nation's Top 100 Wealth Advisors for five
consecutive years.
"We are excited to be building upon the great foundation and brand of
Atlantic Trust in Florida," says Eric B. Propper, CFA, Atlantic Trust
President.
"The state's growing wealth market presents tremendous opportunities for
us to demonstrate our differentiated and distinct wealth management
platform. We believe our physical presence here will help establish
Atlantic Trust's position as the preeminent, go-to wealth management
firm in the state," said Fykes.
Atlantic Trust's expansion to Florida is reflective of robust growth
firm-wide: As of Dec. 31, 2014, Atlantic Trust had $26.2 billion in
assets under management (AUM), marking 31 consecutive quarters of
positive cash flows. The firm has also hired 11 professionals fiscal
year-to-date, including four at the vice president level or above in
San Francisco, Boston, Denver, Chicago and Wilmington, Delaware.
This year, Atlantic Trust has been named the Best Multi-Family Office
(National) at the Family Wealth Report Awards and was recognized for investment excellence by Private Asset Management (PAM), a leading financial services trade publication, for the fourth
consecutive year. Atlantic Trust has been named among Barron's "Top Wealth Managers" since 2006 and among Bloomberg Markets' "Top Family Offices" since the list was first published in 2011. The firm
last year received the second-highest luxury brand ranking among 39
wealth management firms in the U.S., according to a survey of investors
with an average net worth of $15 million and an annual average income
of $800,000 by the Luxury Institute, a New York-based research firm.
About Atlantic Trust
Atlantic Trust is one of the nation's leading private wealth management
firms, offering integrated wealth management for high-net-worth
individuals, families, foundations and endowments. The firm considers
clients' financial, trust, estate planning and philanthropic needs in
developing customized asset allocation and investment management
strategies. Experienced professionals deliver a broad range of
solutions, including proprietary investment offerings and a robust open
architecture platform of traditional and alternative managers. Atlantic
Trust operates in 13 full-service locations throughout the U.S. with
$26.2 billion in assets under management (as of Dec. 31, 2014). For
more information, visit www.atlantictrust.com.
About CIBC
CIBC is a leading Canadian-based global financial institution. Through
our Retail and Business Banking, Wealth Management and Wholesale
Banking businesses, CIBC provides a full range of financial products to
individual, small business, commercial, corporate and institutional
clients in Canada and around the world. CIBC owns a 41 percent equity
interest in American Century Investments®, a major U.S. asset
management company, serving financial intermediaries, institutions and
individuals, and acquired Atlantic Trust, a premier U.S. private wealth
management firm, in January 2014. You can find other news releases and
information about CIBC in our Media Centre on our corporate website at www.cibc.com.
SOURCE Atlantic Trust Private Wealth Management