Press Releases

The office, which is located at 180 Royal Palm Way, will make available equity, fixed income and alternative investment management, estate planning, risk management, trust and capital markets services.

"As our growth efforts continue, we particularly are pleased to have a Palm Beach location, " said Morris W. Offit, chairman and chief executive officer of OFFITBANK. "We look forward to bringing OFFITBANK’s message of exceptional service to the knowledgeable and sophisticated residents of one of the world’s best-known prestigious communities."

James B. Meany will be managing director for the Palm Beach office and will continue to oversee general operations for Wachovia on Palm Beach. Meany has been serving the financial services needs of Palm Beach residents since 1988.

"OFFITBANK, with its strong reputation for excellence and integrity, is already a familiar name to many Palm Beach residents," said Meany. "OFFITBANK’s superior fixed income investment strategies and Wachovia’s equity management strategies and banking capabilities combine to provide a unique level of expertise and personalized service specifically designed to assist high net worth individuals and families."

OFFITBANK, headquartered in New York City, currently has representative offices in Atlanta, Charlotte, Greensboro, N.C, Miami, San Francisco and Winston-Salem, N.C. Clients are located in 39 states, Latin America, Europe and Asia. OFFITBANK has approximately $17 billion in assets under management and some 750 clients.

Wachovia Corporation, with dual headquarters in Atlanta and Winston-Salem, N.C., is a leading financial holding company serving regional, national and international markets. As of Sept. 30, 2000, Wachovia had assets of $72 billion.