Bank of America Private Bank has officially launched its operations in Pittsburgh by opening a new office downtown, complemented by a team of local wealth advisors. This move marks the first expansion of its private banking division in the city, despite the bank’s long-standing presence in the area.
The private banking division of Bank of America includes over 4,000 professionals across 42 markets in the U.S., managing approximately $640 billion in client assets as of mid-2024.
The new office will be headed by Huma Mohiuddin, a native of Pittsburgh with more than 20 years of experience in the financial services industry. Mohiuddin previously held the position of director and Pittsburgh market president at BNY Wealth and has also worked with JPMorgan, Northern Trust, and Morgan Stanley. In her new role, she plans to leverage Bank of America’s extensive global resources to benefit clients in Pittsburgh.
Chris Biotti, northeast division executive for Bank of America Private Bank, commented, “The Pittsburgh market represents a significant growth opportunity for Bank of America, driven by the strength of the city’s technology, healthcare, manufacturing, and education sectors.”