Bank of America – Fifth Third names Tennessee private bank chief

Fifth Third Bank’s local leaders have recruited a veteran wealth management executive from Bank of America to take over their Tennessee private banking operation.

Paul Anderson has joined Fifth Third as a senior vice president and managing director and will oversee a team of specialists who work with high-net-worth individuals and families on investment management strategies, estate planning and trust arrangements. He comes to Fifth Third after more than seven years at (BofA)’s private bank and before that spent two years with the local private client group of U.S. Bank.

“Paul is a forward-thinking leader with extensive experience in designing traditional and alternative wealth strategies to meet the complex objectives of families, businesses and estates,” Fifth Third Tennessee President David Briggs said in a statement. “[His] leadership and vast experience in developing innovative solutions which build, preserve and manage wealth over multiple generations will serve our clients’ needs extremely well.”

Anderson has more than 25 years of experience in wealth management and financial services and fills the spot previously held by Pattie Imperial, who left the bank last fall about three years after moving here from Louisville. Before his time at U.S. Bank, Anderson was president and CEO of Centennial Partners in Memphis as well as senior VP at GenSpring Family Offices and chief investment officer of the former Union Planters. He earned a bachelor’s degree in psychology from Vanderbilt University and an M(BA) degree in finance from the University of Memphis.