B of A Veteran Made President of New Bank

William O. Gamble III has been named president of Boston Safe Deposit & Trust of California, another new entry in the competitive arena of private banking to California’s rich.

The bank will offer investment management and limited banking services to wealthy individuals through new offices in Los Angeles, where the firm will have headquarters, as well as in San Francisco, Palo Alto and Newport Beach.

Gamble, 48, spent more than 20 years at Bank of America and most recently was the head of its consumer trust services division. He is a graduate of the University of Oklahoma and the Pacific Coast School of Banking.

Boston Safe Deposit is a subsidiary of Boston Co., which has become one of the nation’s fastest growing banks by providing specialized financial services to individuals and institutions. Boston Co. is a subsidiary of Shearson Lehman Hutton.