June 1st, 2026
By: Jodie Wagner
Coral Gables Trust has moved its West Palm Beach office to Palm Beach, a shift the firm
says reflects both client demand and the island’s growing role as a center of wealth.
The Coral Gables-based trust and wealth management firm opened its new office May 1
at 350 Royal Palm Way, along the thoroughfare known to local residents as “Bankers
Row.”
The firm had operated a West Palm Beach office for about nine years before making the
move across the Intracoastal.
Chief Executive Officer Richard DeNapoli said the decision was driven in part by the
increasing concentration of clients and financial activity in Palm Beach.
“Palm Beach has become one of the most important wealth centers in the country,”
DeNapoli told the Daily News. “For us, it was a natural step. As the market continues to
grow and evolve, we see a meaningful opportunity to grow alongside it.”
Coral Gables Trust Senior Vice President Patricia Godwin, CEO Richard DeNapoli and Senior Vice
President William M. Fox, from left, stand outside the company’s new office at 350 Royal Palm Way in
Palm Beach.
The new space places the firm closer to many of its clients, as well as attorneys and other
advisors with whom it works closely, DeNapoli said.
“This location allows us to operate exactly where our clients and our relationships are
concentrated,” he said. “I think it puts us in a stronger position to serve them at the high
level we expect of ourselves.”
The move also reflects a shift in the firm’s client base, with more high-net-worth and
ultra-high-net-worth individuals spending time or establishing residency in Palm Beach.
Richard DeNapoli, CEO of Coral Gables Trust, was photographed inside the company’s new office at 350
Royal Palm Way in Palm Beach.
“That has been a growing segment for our company,” DeNapoli said. “So this was a
natural next step.”
The new office spans about 1,684 square feet on a single floor and houses two senior
staff members, with plans to expand, DeNapoli said.
He said the Bankers Row location — a nickname Royal Palm Way earned years ago for
its concentration of financial institutions — offers both visibility and proximity in what
he described as a relationship-driven market.
“Being on Bankers Row means we’re easily accessible and well situated,” he said. “It
places us close to the community that we’re serving. It’s not just a satellite market for us.
It’s an important market for the firm, and one we’re committed to having a meaningful
long-term presence.”
DiNapoli pointed to an influx of wealth and firms into South Florida — a trend
sometimes referred to as “Wall Street South” — as part of Palm Beach’s growth as a
financial hub.
More people are spending time on the island year-round, he added, putting down roots
and looking for local connections.
“There’s a continued migration of both capital and decision-makers into South Florida,
and specifically into Palm Beach,” he said.
The firm expects that growth to continue, he added.
“Palm Beach stands apart,” DeNapoli said, citing the area’s concentration of family
wealth and multi-generational planning needs.
Founded in 2004, Coral Gables Trust provides investment management, estate and trust
planning and fiduciary services to individuals, families and institutions. The firm
operates offices in Coral Gables, Fort Lauderdale, Boca Raton and Palm Beach.
DeNapoli said the new Palm Beach office underscores the firm’s long-term commitment
to the area.
“Being physically present where our clients live and spend time is important to our
relationship-driven approach,” he said. “The office reflects our long-term commitment
to serving clients in Palm Beach.”
