Banknorth’s Investment Management Division Changes Name to ‘Banknorth Wealth Management Group’

New name more clearly identifies services provided by the firm

Banknorth Investment Management Group has changed its name as of May 1 to Banknorth Wealth Management Group to more clearly identify the firm with the services it provides.

A division of Banknorth, N.A., Banknorth Wealth Management Group provides trust and other wealth-advisory services to individuals and businesses from its 21 offices in Maine, New Hampshire, Massachusetts, Vermont, Connecticut and New York. With more than 200 employees, the firm manages more than $10 billion in assets for its clients.

“It is a change in name only – all of our people, services and offices will remain the same, so it’s business as usual,” said Robert B. Esau, president of the firm, which is part of the Banknorth Group. Customers with any questions may call Esau or their local advisor at 1-800-871-8101.

Earlier this month the wealth management company introduced a newly designed web site that can be accessed through www.banknorth.com or reached directly at www.BanknorthWealthManagement.com.

New signs and the revised logo will be in place by July.

Banknorth, now New England’s largest banking company, was recently named by Forbes magazine as the Best Managed Bank in America.

The company’s recent acquisition of Cape Cod Bank and Trust company also will add 40 additional investment professionals to the wealth management team.

Banknorth Group (NYSE: BNK), headquartered in Portland, Maine, is one of the country's 35 largest commercial banking companies with $26.9 billion in assets. Banknorth, N.A., a Banknorth Group subsidiary, is the parent company of Peoples Heritage Bank in Maine, Bank of New Hampshire, Banknorth Massachusetts, Banknorth Connecticut, Banknorth Vermont and Evergreen Bank in upstate New York. The company and its banking affiliates also operate subsidiaries in insurance (Banknorth Insurance Group), and leasing (Banknorth Leasing). Banknorth, N.A. also offers investment planning services through Bancnorth Investment Planning Group in association with PrimeVest Financial Services, Inc. Other subsidiaries and divisions provide services in mortgage banking, asset-based lending, private banking, merchant services and other financial services. For more information about Banknorth, visit the company online at www.banknorth.com.

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