Market Street Trust Company, a wealth management firm providing financial planning and wealth management services for high-net-worth families, is expanding to New York City.

Market Street, based in Corning, N.Y., will open an office at 590 Madison Ave., with Robert Elliott heading the office as vice chairman. Elliott will build a new team at the Manhattan location.

Elliott was most recently a senior advisor and previously a senior managing director with Bessemer Trust. He is a member of the Market Street board of directors.

“Opening the office and adding an executive of Rob’s caliber will enable us to continue the thoughtful expansion of our business,” says Marianne Young, Market Street president and CEO.