The Tribune

A Bahamas-based financial services provider with $9bn in assets under management has named Patrick Milot-Daignault as head of its wealth management unit.

Patrick Milot-Daignault, a Canadian wealth management adviser and high-level relationship executive, will head Sterling Wealth Management, an affiliate of Sterling Global Financial.

Mr Milot-Daignault, who has had more than 25 years’ experience in wealth management, will be responsible for developing the unit’s business strategy.

He most recently served on the senior executive team for one of the world’s leading financial institutions,. interfacing with large global asset managers and financial services institutions.

“Patrick brings a unique skill set to our business having worked all over the world and with a diverse group of clients,” said Stephen Tiller, president, Sterling Global Financial. “As financial products evolve and technological advances continue, what distinguishes a premier asset manager is the client experience. And we believe that Patrick who has, over a long and successful career acquired a solid understanding of management principles, will deliver to our clients an unparalleled experience.”

Mr Milot-Daignault’s appointment to head up Sterling’s wealth management division is the latest in a pattern of deliberate, steady growth for the firm headquartered in Nassau. It is financing numerous residential, resort and commercial real estate and development projects around the world.

Sterling-managed funds are currently assisting with projects in London, Boston, Ireland, Grand Cayman, Miami and The Bahamas. In The Bahamas, Sterling broke ground last month on its $250m Sterling Hurricane Hole development that includes construction of condominiums, prime harbourfront office space, dining, retail and marina renovation.

Sterling is also set to announce a major project in Grand Cayman, where its Cayman office maintains one of the oldest trust companies in the hemisphere.