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Bank of America Private Bank is expanding its presence in the Garden State with a trio of new hires to the team serving the area, and the establishment of new office at 141 W. Front St. in Red Bank.

Robert Marrone, Michael Erskine and Thomas Applegate will report to Kathryn Carlson, Private Bank market executive for the State of New Jersey, as part of the private wealth management organization.

Marrone will serve as managing director from BofA Private Bank in Red Bank, leading a group of specialists in wealth planning, banking, and risk and investment management. He specializes in building, managing, preserving and transferring clients’ wealth and comes to the position after 15 years at Wells Fargo Private Bank.

Erskine will serve as senior vice president, private client advisor – also in Red Bank. His work will focus on entrepreneurs, business owners, real estate professionals, senior executives and their families. Erskine comes to BofA Private Bank from Wells Fargo Private Bank, as well, where he spent seven years providing wealth management services to high-net-worth clients .

Applegate, who joins as senior vice president, portfolio manager, will work with the Red Bank office from Princeton. According to BofA he has more than 25 years’ experience in investment and financial services. At BofA Applegate will build and manage investment portfolios to help clients meet financial and lifetime goals.

“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 statement.

“We will continue to add resources, while investing in seasoned talent and are excited to have Rob, Michael and Thomas join our team,” he added.