Magazine article American Banker

Chase Eyes Ways to Make Trust Mesh Better with Private Bank

Magazine article American Banker

Chase Eyes Ways to Make Trust Mesh Better with Private Bank

Article excerpt

After moving to a new suite of offices, executives in the New York trust department of Chase Manhattan Corp. may also change the way they work with clients.

Chase is looking at having the trust division reflect more closely its private bank, which is broken up into teams of executives. The private banking teams work with categories of clients, such as corporate professionals, wealthy families, and entrepreneurs.

"While trust officers may support those teams, we're looking at more closely aligning them with those groups," a Chase private bank spokeswoman said.

The potential for adjustments in client services comes after the retirement in late July of Thomas E. Roepe, the head of New York trust and estate administration.

Mr. Roepe, who worked in the trust department of Chemical Bank Corp. before its merger with Chase, had four team leaders in New York working for him. Those leaders now report to Julian S. Bub, the executive in charge of domestic trust administration.

"Tom's departure has given us the opportunity to look at the organization to see if there are ways to improve," the spokeswoman said. "We are consistently reviewing our organizational structure to ensure we have the best possible structure to serve our clients."

Under the possible realignment, Chase's trust administrative staff, which has been working as a centralized group, may also be divided to support the teams, the spokeswoman said.

Individual trust officers in the bank, created by the merger of Chase and Chemical, have accounts representing different kinds of clients. …

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