Boston Private Financial Holdings Inc. (BPFH) has completed the consolidation of the company’s four private banks – operating in the New England, Pacific Northwest, Southern California and Northern California markets – under one unified charter based in Massachusetts.

The consolidated bank has nearly $6 billion in total assets, more than $450 million in capital and more than $3.5 billion in client assets under management, according to a statement. The consolidated bank will conduct business as Boston Private Bank & Trust Co. in all markets except for Northern California, which will continue to operate locally as Borel Private Bank & Trust Co., a division of Boston Private Bank & Trust Co.

"This is an important milestone for our company," said BPFH CEO and President Clayton G. Deutsch. "With one, integrated private bank, we believe we can more fully apply our infrastructure, our professionals and our expertise to enhance our growth, productivity and profitability."