US Trust, the asset management firm with $103bn (€86bn) of assets under management, has appointed Deutsche Asset Management's Leo Grohowski as its new chief investment officer.

He will be based in the firm's New York headquarters and succeeds Timothy Leach, who has been promoted to head of business in the western region, a new position at the firm.

Carrie Ann Wharton in New York

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DeAM CIO Grohowski joins US Trust

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