First Citizens Bank Announces Leadership Structure for Wealth Organization

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First Citizens Bank announces new leadership structure for its wealth organization, with Michael Wilson leading both First Citizens Wealth and SVB Private. The combined organization aims to improve coordination and enhance support for individuals, families, and institutions with financial solutions and guidance.

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• Michael Wilson, with his decade of experience, will lead both First Citizens Wealth and SVB Private, leveraging the resources and capabilities of both organizations to deliver personalized wealth planning and services to clients. The new leadership structure aims to accelerate efforts to support institutions, families, and individuals with the high-touch, personalized customer service that has been the hallmark of First Citizens Wealth. The combined organization now manages over $50 billion for clients.

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• Michael Wilson to lead both First Citizens Wealth and SVB Private
• Leadership team reflects strengths and talents from across the organization

RALEIGH, N.C., Sept. 6, 2023 /PRNewswire/ -- First Citizens Bank today announced a new leadership structure for its wealth organization that will improve coordination and enhance its commitment to supporting individuals, families and institutions with outstanding financial solutions and guidance.

Michael Wilson, who has overseen the growth and expansion of First Citizens Wealth for a decade, is assuming the additional leadership responsibility for SVB Private, a private banking and wealth management business that came to First Citizens through its recent acquisition of Silicon Valley Bank (SVB).

Wilson's leadership team reflects the outstanding strengths and talents of executives at both First Citizens Wealth and SVB Private. New assignments within the combined organization include:

• Brent Ciliano, a First Citizens executive, who will serve as Chief Investment Officer.
• Marc Horgan, a First Citizens Wealth executive, who will oversee personal wealth sales.
• Robert Nentwig, an SVB Private executive, who will lead private banking and lending.
• Nerre Shuriah, a First Citizens executive, who will lead wealth planning.
• Phillip Strickland, a First Citizens executive, who will lead institutional sales.
• Gerald Baker, an SVB Private executive, who will lead personal trust services.
• Steve Gilland, a First Citizens executive, who will focus on private banking operations and integration.
• George Shehata, an SVB Private executive, who will head up strategy.
• David Biliter, a First Citizens executive, who will oversee investor services.

"First Citizens has built one of the industry's leading wealth management teams by leveraging our relentless client focus and a relationship-oriented business model," said Hope Holding Bryant, First Citizens' vice chairwoman and the lead executive for its General Bank, which includes the Wealth group.

"With our acquisition of SVB Private, it is logical and appropriate to bring our wealth and private banking activities together under a unified leadership structure," Bryant continued. "I am confident this approach will accelerate our ongoing efforts to support institutions, families and individuals with the personalized service and resources they need to grow, manage and preserve their wealth."

Wilson, who now oversees about 900 associates helping manage more than $50 billion for clients, said: "I am truly excited and honored to lead this exceptional group of talented professionals. Our objective is always to put clients first with the high-touch, personalized customer service that has long been our hallmark.

"Between First Citizens Wealth and SVB Private, the resources and capabilities we have to support clients are second to none," Wilson said. "We have never been better prepared to deliver the wealth planning and services our clients need to become financially successful."

First Citizens Wealth and SVB Private serve high net-worth individuals, families and institutions, while also supporting the needs of innovation economy founders, leaders and investors with financial guidance and private and commercial banking capabilities.

First Citizens Wealth and SVB Private empower clients with a comprehensive set of services and solutions to meet their unique and evolving needs. The team's holistic approach, goals-based strategy and personalized service help ensure clients can make smart decisions at every stage of their financial journey.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 550 branches in 23 states and commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Discover more at firstcitizens.com.

MEDIA RELATIONS: 
John M. Moran
212-461-5507
john.moran2@firstcitizens.com

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SOURCE First Citizens Bank

FAQ

Who is leading the new leadership structure for First Citizens Bank's wealth organization?

Michael Wilson is leading the new leadership structure for First Citizens Bank's wealth organization, overseeing both First Citizens Wealth and SVB Private.

What is the goal of the new leadership structure?

The goal of the new leadership structure is to improve coordination and enhance support for individuals, families, and institutions with financial solutions and guidance.

How much does the combined organization manage for clients?

The combined organization now manages over $50 billion for clients.