U.S. Trust is expanding its capabilities to serve the philanthropic needs of its ultrawealthy clients.
The firm, a unit of Bank of America, hired Terry Hill, a former Hirtle Callaghan representative in the Midwest, to serve in the newly-created position of nonprofit institutional sales director. In his new position, Hill will help the firm grow its nonprofit client-base. Hill will report to Bernie Reidy, national philanthorpic sales executive, at the firm's office in Chicago.
Hill has prior experience advising high-net-worth clients, family offices and institutions on investment strategies and manager selection at both Northern Trust and the private bank at JP Morgan, according to U.S. Trust.
In addition to Hill, U.S. Trust also said that Adriane Russo, a former director of client relations and business development at Morgan Stanley, has joined the firm's philanthropic solutions RFP team as vice president, RFP specialist.
Based in Wilmington, Del., Russo will report to U.S. Trust's RPF Manager and Senior Editor Chris Mottershad, according to the firm.
In the last year U.S. Trust appointed Ann Limberg to head of the firm's philanthropic solutions and family offices and named Reidy its latest executive of national philanthropic sales.