The bank said that the change of name marks the completion of a process initiated earlier this year when Charter Private’s parent company, Boston Private Financial Holdings, unveiled a plan to consolidate the charters of its four affiliated private banks into one integrated bank charter.
Charter Private Bank is located throughout Greater King County with offices in Bellevue, Redmond and Downtown Seattle.
The consolidated Boston Private Bank & Trust has nearly $6bn of total assets, more than $450m of capital strength, and over $3.5bn of client assets under management.
Charter Private president and CEO Marty Steele said although the name will change, the distinctive personal service its clients expect, delivered by the local staff, will remain the same.
"Our ties with the local community will be as strong as they ever were. And our clients will gain access to new service offerings, products and offices throughout the Boston Private Bank & Trust Company network."
As a result of the consolidation, the bank will be able to offer a broader suite of private banking and wealth management services, including residential lending, commercial banking, investment management and trust, and cash management and deposit services. Clients will also gain access to Boston Private affiliated private banking offices in San Francisco, Los Angeles and Boston.
