Fieldpoint Private Bank has appointed John Palazzetti as director of private banking and advisory.

Palazzetti previously served as managing director and director of professional development at Morgan Stanley Smith Barney. In his new role, he will oversee the firm's branch expansion and recruitment initiatives for the private banking, wealth management, business banking, family office, and trust services divisions. In addition, he will also serve as president of Fieldpoint Private Securities, which is currently in transition following its takeover of broker-dealer Nutmeg Securities in June.

The move comes as Fieldpoint is seeking to open offices in a third and fourth location in the US, either later this year or in early 2012. It is headquartered in Greenwich and has an office in New York City.