BancPlus Hires Two Wealth Management Leaders

By Margarida Correia June 04, 2015, 5:41 p.m. EDT 1 Min Read

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Community service initiative: The bank's CreditPlus program is a low-interest, small-dollar loan alternative to payday lenders and check-cashing services. Participants are invited to attend financial literacy seminars.

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BancPlus in Ridgeland, Miss., has hired two Morgan Stanley financial advisers to lead its new wealth-management unit.

The $2.6 billion-asset holding company for BankPlus hired Johnny Lang and Michael Taylor, both formerly of Morgan Stanley. Lang and Taylor will operate BankPlus' new wealth-management unit, WealthPlus. The new division exclusively serves clients classified as "ultrahigh-net-worth."

Lang and Taylor have about 200 clients with about $350 million in assets.

Lang and Taylor will "provide commission-based brokerage services and fee-based advisory services through" LPL Financial Holdings, the San Diego company said. LPL is the third-party broker-dealer for BankPlus.

This article first appeared in Bank Investment Consultant.

Margarida Correia

Former associate editor, Employee Benefits Group, Bank Investment Consultant