Malvern Federal Savings Bank has appointed Andrea Cho to Senior Vice President, Private Banking of Malvern. The bank also announced that it intends to open a private banking office in Montchanin, Del., in September. It will be located at 10 West Rockland Road.
“The new Montchanin office will be less than four miles from the Pennsylvania border, so it is well situated to serve the needs of our growing client base in southern Chester County and northern Delaware,” said Anthony C. Weagley, President and CEO of Malvern Bancorp.
“Like our five other private banking offices, our new Montchanin office will offer consumers a superior, personalized banking experience, including banking by appointment, which enables customers to schedule a meeting with our financial professionals at a time that is convenient to them.”
The new private banking office will be located in Bell Rock Capital’s Montchanin office, in a historic train station at the center of Montchanin. The community was named for Anne Alexandrine de Montchanin, mother of Pierre Samuel du Pont de Nemours, grandmother of the founder of the DuPont Gunpowder Company and once part of the Winterthur Estate.
The new office will be Malvern’s sixth private banking office. The others are in Villanova, Glen Mills, Quakertown, Morristown, N.J., and Palm Beach, Fla.
Cho will lead Malvern’s Private Banking division, which assists high-net-worth individuals, families, and businesses with wealth management, commercial, and residential lending. She will operate out of the bank’s Villanova office.
Prior to joining Malvern, she served in wealth management and private banking executive management positions at Bank of America, Morgan Stanley, U.S. Trust Bank of America, and Bank of America Merrill Lynch. She has served her community as a member of the Board of Trustees for the Philadelphia Bar Foundation, a committee member of the Philadelphia Korean Community Center, and member of the Women’s Way grant committee.
“With the addition of our Private Banking professional staff, Malvern is continually responding to our clients’ private banking and wealth management needs,” said Alexander Opiela, Senior Vice President and COO of Malvern Federal. “Through our strategic partnership with Bell Rock Capital in Rehoboth Beach, Del., we provide a broad range of products and services, and we are committed to ensuring that the service we provide is beyond our clients’ expectations.”
The new private banking office in Montchanin will offer an array of services, including:
- liquidity management
- investment services
- 401(k) accounts and planning
- tailored lending
- wealth planning
- trust and fiduciary services
- family wealth advisory services
- philanthropic advisory services
The office will be staffed by a registered investment advisor (through the bank’s partnership with Bell Rock Capital) and retail and private banking professionals with years of financial services experience.