Bank of America expands Private Bank team in Red Bank

Bank of America Private Bank has added a trio of veteran executives to its team in New Jersey, it announced Thursday.

The new execs, working out of the Red Bank and Princeton regions, will report to Kathryn Carlson, Private Bank market executive for the state of New Jersey. They will be located in a new Bank of America Private Bank office at 141 W. Front St. in Red Bank.

  • Robert Marrone has joined the bank as managing director, private client adviser, leading a group of specialists in wealth planning, banking, risk management and investment management. He had been with Wells Fargo Private Bank.
  • Michael Erskine has joined as senior vice president, private client adviser, focusing on entrepreneurs and other business owners, real estate professionals and others. He also had been with Wells Fargo Private Bank.
  • Thomas Applegate is also a SVP, as well as portfolio manager. He is based in the Princeton area and working with the Red Bank office. He has more than 25 years of experience in the industry, representing complex investment and financial concepts to a wide variety of clients.

“The increased demand for investments, lending, philanthropic and estate planning solutions in the Red Bank and Princeton markets present a great opportunity for growth as we expand our client business in New Jersey,” Jose Tavarez, managing director, tri-state divisional executive, said in a prepared statement. “We will continue to add resources while investing in seasoned talent, and are excited to have Rob, Michael and Thomas join our team.”