BNP Paribas -- dominator of the UHNW market in France -- taps ex-Silver Bridge chief for ultrahigh-net-worth assault on US
Through its Bank of the West subsidiary, Paribas is hiring Prostano to gun for San Francisco rival First Republic -- but questions about the state in which he left Silver Bridge remain
April Rudin
Congrats to Steve Prostano and BNP Paribas/Bank of the Wealth – sounds like a perfect “peanut butter and jelly” sandwich aligned for a “hungry” marketplace searching for UHNW service providers!
Elmer Rich III
We work in this market, globally. It is hyper-competitive and evolving quickly. It is also, effectively, centered in NYC and London. Some in Silicon Vally. Best of luck to all comers.
Related Moves
Karl Heckenberg files with SEC to raise a staggering $1 billion, (presumably) to buy, buy, buy RIA stakes in a 'crowded' market
The former CEO and president of Emigrant Partners has launched the Constellation Wealth Capital Fund with a ten-figure funding target.
August 18, 2023 at 3:56 AM
Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor
Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.
April 29, 2023 at 1:36 AM
Emigrant Bank 'doubles down' to send Mark Hurley packing and fire up Fiduciary Network, its RIA deal machine
The billionaire-owned New York bank eschewed the quick buck of a top-of-market sale to bet Karl Heckenberg can make Fiduciary Network function even better as its new CEO
