Private Banking & Cambridge Trust
What private banking is (and why it matters)
Private banking coordinates day-to-day banking, bespoke lending, investing, trusts & estates, and philanthropy for wealthy families and entrepreneurs—aiming to simplify complexity and align liquidity, taxes, governance, and legacy under one relationship. Cambridge Trust’s model centers on a dedicated private banker who orchestrates specialists across banking, wealth planning, and trust capabilities. cambridgetrust.com
Where Cambridge Trust fits today
In July 2024, Cambridge Trust merged into Eastern Bank. Since then, the Cambridge Trust brand continues on the Private Banking and Wealth Management side—while deposit products are offered by Eastern Bank, Member FDIC. As of Mar 31, 2025, Eastern listed about $25.0B in banking assets, and Cambridge Trust Wealth Management oversaw $8.7B in client assets. Service coverage is concentrated in MA, NH, and CT. cambridgetrust.com
-
Eastern’s press release confirms the merger closing and systems conversion the weekend of July 12, 2024. easternbank.com
-
The About page reiterates the combined footprint (110+ locations) and notes ~$8.4B AUM as of Sep 30, 2024 (the AUM figure has since been cited as $8.7B in 2025 content). cambridgetrust.com+1
What clients get: the Cambridge Trust toolkit
1) Personal private banking
You work with a “financial quarterback” who coordinates lending, banking, investing, and planning, with higher operational limits (mobile deposit, bill pay, transfers) and access to events and CIO insights. It’s designed for individuals, families, partners/C-suite, and next-gen clients. cambridgetrust.com
2) Business private banking
For partnerships, professional firms, family businesses, nonprofits, foundations, and VC/PE principals, the team pairs private-bank attention with escrow services, treasury management, commercial lending, fraud prevention, and payment solutions, plus succession planning support for multigenerational enterprises. cambridgetrust.com
3) Wealth management & planning
Private banking integrates directly with Cambridge Trust Wealth Management for investment management and financial planning, and with Trust & Estates specialists—backed by a dedicated New Hampshire trust office that can leverage NH’s favorable trust statutes (e.g., dynasty and asset-protection trusts, directed/delegated structures, potential tax advantages). cambridgetrust.com+1
Eligibility, balances & current offer (as of 2025)
Cambridge Trust does not publish a single global “minimum” for private banking; eligibility and pricing are relationship-based. A current Private Banking relationship offer (through Dec 1, 2025) illustrates typical deposit tiers: earn $1,000 with $100k–$249,999, $2,000 with $250k–$499,999, or $3,000 with $500k+ in qualifying balances (PB Checking + eligible PB money market). $500 minimum opening deposit; APYs listed on the offer page and subject to change. Residency and other criteria apply. cambridgetrust.com
Regulatory note: Investment advisory and wealth products are not FDIC-insured and may lose value; deposit products are offered by Eastern Bank (Member FDIC). This is explicitly stated on Cambridge Trust pages. cambridgetrust.com
Recognition & scale
The firm highlights that Cambridge Trust Wealth Management was named Massachusetts’ largest bank-owned independent investment adviser by the Boston Business Journal (2024 and again in 2025 content), citing $8.7B AUM (July 15, 2025). cambridgetrust.com+1
Who it’s best for
-
New England–based (or connected) families and founders who want one team to handle banking + wealth with local access and institutional continuity post-merger. cambridgetrust.com
-
Clients exploring NH-based trust structures for governance, protection, and potential tax benefits. cambridgetrust.com
-
Entrepreneurs, professional partnerships, and VC/PE principals who need escrow/treasury depth plus personal balance-sheet care. cambridgetrust.com
Practical next steps
-
Ask for a proposal detailing your relationship setup (accounts, lending, custody, fees) and how your private banker coordinates with Wealth Management and Trusts. cambridgetrust.com
-
Confirm membership/eligibility and current pricing for your region; if using the 2025 PB offer, check the fine print (balance timing, residency, APYs). cambridgetrust.com
-
If multigenerational or cross-border, review NH trust options and how they integrate with your estate plan. cambridgetrust.com
Context on the merger & footprint (for reference).
-
Merger close & conversion (July 12–15, 2024) and leadership/board updates. easternbank.com+2SEC+2
-
Eastern’s 2024–2025 disclosures referencing added loans/deposits and AUM from Cambridge. investor.easternbank.com
