Old National launches new wealth management business
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Evansville-based Old National Bancorp (Nasdaq: ONB) has unveiled a new wealth management business. The bank says 1834, so named after the year Old National was founded, will cater to the diverse and complex financial advisory needs of high-net-worth individuals and institutions.
Old National says 1834 will offer a boutique-style experience for its clients offering wealth planning, investment management, and philanthropy services.
“We have tailored, holistic services that readily compete with those of ultra-high-net-worth firms and independent investment and advisory firms; yet we don’t require the lavish ‘entry fee’ that often comes with them,” said Chady AlAhmar, CEO of Old National Wealth Management.
Old National completed its $6.5 billion merger with Chicago-based First Midwest Bancorp last year. CEO Jim Ryan says as part of the transformation, senior leaders of the wealth management division focused on combining the best wealth-related services from each legacy company.
“The result of that process was the formation of 1834, and with it, comes a broader investment platform and a much deeper focus on wealth planning – all while delivering the same exceptional service our clients have come to expect,” said Jim Ryan, CEO of Old National.
1834 has offices throughout the Midwest in addition to newly added locations in Nashville and Scottsdale, Ariz.