Larry Gore’s career is doing a 180, and he couldn’t be happier about the change.
After spending much of his career at JPMorgan, UBS and their predecessor firms, Gore has been promoted by Wilmington Trust to be president of the New York office of Wilmington Trust FSB.
Gore, a wealth advisor in New York for more than 30 years, joined Wilmington Trust’s New York office earlier this year as a managing director and senior private client advisor. In his new role, Gore reports to Roger Hobby, president of the Northeast region for Wilmington Trust FSB’s Wealth Advisory Services business.
“Larry has been a successful wealth advisor for high-net-worth clients and a great mentor to colleagues for many years,” Hobby said. “Our New York office has expanded considerably over the past decade to keep pace with our growing base of clients in the area and to effectively manage their increasingly complex needs. I look forward to that strong momentum continuing under Larry’s able leadership and experienced insight.”
Gore will be working with high-net-worth clients, wealthy families, foundations and endowments. He will also work closely with registered investment advisors to provide them with Wilmington Trust’s fiduciary and investment management capabilities.
To remain competitive in the New York market, Gore said Wilmington Trust will need to work hard to develop its clients and enhance its relationship management capabilities.
“We’re very much a client-driven firm; that aspect does differentiate us,” he said. “We have a very talented group of professionals in this office. [This office] has a long track record of working well for our clients.”
Gore said despite competing against firms like JPMorgan Chase and UBS, Wilmington Trust is positioned to attract top-tier clients. “We are a well-known known brand in the marketplace,” he said. “I think there is a flight to quality organizations right now. We are positioned to be competitive. That was a real attraction for me to join the firm.”
Gore has just hired three people to focus on foundations and endowments and he expects to continue hiring.
“I am very excited to be a member of the team that has such a great focus on growth,” he said.
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Also on the move this week:
BNY Mellon Broker-Dealer Services appointed John Vinci head of global product management and strategy. Also, Andrew Demko was hired as business manager for Europe, the Middle East and Africa. Both are newly created senior management roles in the broker-dealer services business. Vinci was head of the New York relationship management group within BNY Mellon Broker-Dealer Services. Demko was head of Global Sales for BNY Mellon Broker-Dealer Services.
City National Bank, which is based in San Francisco, hired six banking and investment management professionals for its private client services group in San Francisco. They are: John Dowling, a vice president and senior private banker; Kelly Gaynor, vice president and senior private client advisor; Corey Cronin, vice president and senior private client advisor; David Glotzer, vice president and senior private client advisor; Shawn Brown, vice president and senior private client advisor; and Debra Brusatori, as vice president and senior personal trust officer.
Fifth Third Securities in Chicago hired Michelle Griffith as an area sales manager and vice president. She is responsible for the Eastern Gateway region in the Chicago market. Griffith has worked in the financial industry more than 17 years.
First Republic Private Wealth Management, a unit of First Republic Bank, has hired Glenn Degenaars as a portfolio manager and a managing director in its New York office. He was a managing director and senior investment advisor for Deutsche Bank Private Wealth Management.
David Coxon, the president and CEO of the State Bank of Georgia, was elected chairman of the Risk Management Association. John Wixted Jr., the chief risk officer and executive vice president of PNC Mortgage, was elected vice chair. Their one-year terms began Wednesday.
Scottrade, a St. Louis-based online investment firm, promoted Kim Wells to chief marketing officer. She was director of branding and website marketing for the company.