Skip to Content
Capital Acumen Issue 33

A Message From Katy Knox

Photograph of Katy Knox, President U.S. Trust, Bank of America Private Wealth Management

Please let me begin by telling you how privileged I feel to have been appointed to lead U.S. Trust, with our history of more than 150 years helping clients like you preserve your wealth, build a legacy, and share your wealth with the next generation. It is a pleasure for me to succeed Keith Banks, who has taken on important new responsibilities within Bank of America. In nine years leading U.S. Trust, Keith drove our culture of responsible growth. That culture is based on our belief that we succeed only by focusing on you and your family, helping manage risks and creating great opportunities for you, and doing that in a sustainable way over time. With three decades of working with clients in various business segments in the U.S. and across the globe, it is my personal commitment to maintain that culture.

We understand that you have a lot to think about. The recent reform of the U.S. tax code will create opportunities as the changes take effect. Sustained U.S. and global economic growth creates other opportunities. I look forward to working with you, together with your U.S. Trust advisor, to help you navigate your financial life and provide you with valuable, innovative ideas and the best capabilities available.

I know you also are thinking about your intergenerational priorities. Many of our clients want to ensure that their children are well prepared to receive inherited wealth. Upwards of 30 trillion dollars will be passed to the next generation over the coming decades. The children appear to have distinct views on inheritance, philanthropy, and impact investing. This generational contrast is the focus of our cover story. “Boomers vs. Millennials” highlights where families may find themselves on different sides of the fence, and where there is common ground. The article also features investment opportunities that our Chief Investment Officer, Chris Hyzy, and others see arising from the so-called “generational collide.”

Social and environmental impact are of growing importance to many investors and corporations. Core to our approach to responsible growth is deploying our capital for impact investing. For instance, at the end of 2016 we were about halfway through our $125 billion environmental commitment, well ahead of the 10-year goal we set for ourselves in 2015. Bank of America Merrill Lynch was the world’s leading underwriter of green bonds in 2016. Please take a look at the article “Our Commitment to a Better World” to learn more.

I hope you enjoy the engaging and informative articles in this issue. I look forward to working with our great U.S. Trust teams and with you and your family. I wish you and yours the best this year.

Katy Knox
President
U.S. Trust, Bank of America Private Wealth Management

Related Insights

Back to Top