Fiduciary Trust re-hires Cabanas to boost business development in South Florida

Michael Cabanas has joined wealth manager Fiduciary Trust International, a subsidiary of Franklin Templeton Investments, from Miami-based Coconut Grove Bank where he was head of wealth management.

It is Cabanas’s second stint at FTI, having previously worked at the firm from 2006 to 2013 as a business development officer. He has also held senior private banking positions at BNY Mellon Wealth Management and JP Morgan Private Bank.

In his new role, Cabanas will be responsible for all of the firm’s business-development and relationship-building efforts in the South Florida market.

As part of the firm’s Latin America strategy, he will work with individuals and families based in the region, with a particular focus on Brazil, Colombia and Mexico. Gail Cohen, chair of Fiduciary Trust International, said Cabanas’s knowledge of these clients’ needs would be a boost for the firm.

“We are delighted to have Michael back,” she added.

Cabanas rejoined Fiduciary Trust’s Florida division just two months after it lost its chief executive Teresa Valdés-Fauli Weintraub – who has strong Latin American ties – to Merrill Lynch.