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U.S. Trust Family Office
U.S. Trust Family Office is the direct descendant of the 1853-chartered United States Trust Company of New York, which pioneered the corporate fiduciary...
U.S. Trust Family Office
U.S. Trust Family Office is the direct descendant of the 1853-chartered United States Trust Company of New York, which pioneered the corporate fiduciary model. Acquired by Bank of America in 2007 and later merged into its Private Bank division, the unit now functions as the bank's multi-family-office nerve center for intergenerational wealth transfer. Keith Banks, a former U.S. Trust president, was a visible architect of the platform's modern shape; other veteran practitioners include Douglas Moore, a managing director and senior planner inside the Family Office Group. Capital is deployed across at least eleven asset classes, with confirmed activity mapped across private equity, private credit, direct co-investments and SPVs, hedge funds, real estate, infrastructure, natural resources, commodities and digital assets. The group also maintains distinct allocations to collectibles and passion assets, supported by the Specialty Asset Management Group in New York and the Bank of America Art Conservation Project. Technology commitments span AI/ML, cybersecurity, enterprise software and semiconductors, while sector-level exposures include energy transition, climate tech, healthcare services, industrial tech and luxury. Geographic reach extends across North America, Europe, Asia, and the Middle East and Central Asia. The platform is consistently ranked among the world's largest multi-family offices by Bloomberg's Richest Family Offices ranking. It stewards timberland and ranch exposure alongside a mixed-use specialty-asset portfolio, and its affiliated giving vehicles — the Bank of America Charitable Gift Fund and U.S. Trust Philanthropic Solutions — sit apart from core client mandates. The Southeastern Family Office Forum lists the firm as an active participant and sponsor of regional networking events. What distinguishes U.S. Trust from a standalone multi-family office is its structural home inside a Basel III-regulated global bank balance sheet. Clients access fiduciary services, tax-optimized investment lending, specialty-asset custody and philanthropic scaffolding through the same institution that underwrites their credit, a configuration that makes the office a liquidity-aware allocation hub rather than a purely independent advisory boutique.
General information
Firm type
Multi Family Office
Year founded
—
AUM
> $400B (Altss estimate)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Keith Banks
Former President of U.S. Trust
Sector focus
Frequently asked questions
Who runs investment decisions at U.S. Trust Family Office?
Decision-making authority is distributed across the Private Bank's investment-management and family-office units. Keith Banks formerly served as president of U.S. Trust and helped shape its institutional architecture; Douglas Moore remains a senior planner inside the Family Office Group. Portfolio construction draws on Bank of America's global research and strategy division, while specialty-asset oversight sits with the Specialty Asset Management Group in New York.
Is U.S. Trust structured as a single family office or does it operate more like a private bank?
It is a multi-family-office platform embedded inside Bank of America Private Bank. This gives it the fiduciary charter and family-governance specialization of an MFO while retaining access to a global bank's balance sheet, lending capabilities and custody infrastructure — a hybrid structure that differs markedly from independent MFOs.
Does U.S. Trust participate in fund commitments or only direct deals?
Both. The platform deploys through private-equity and hedge-fund commitments, direct co-investments and SPVs, private credit mandates, and a range of real-asset and collectibles exposures, including timberland, ranches and fine art.
How is U.S. Trust Family Office related to Bank of America Private Bank?
The U.S. Trust franchise was acquired by Bank of America in 2007 and later folded into what is now Bank of America Private Bank. The family-office group operates as the multi-generational planning and specialty-asset arm within that private-banking division.
Where does the underlying wealth come from?
The firm does not publicly disclose the origin of the wealth it oversees. It serves a broad constituency of high-net-worth families and individuals, with assets gathered through decades of trust-company and private-banking relationships rather than a single founding fortune.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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