SunTrust Banks has bolstered its presence in US Northeast by launching a new private wealth management office in Boston.
The new office will be staffed by Rick Tesh, who serves as a client adviser in SunTrust Private Wealth Management’s Greensboro office.
Tesh, who specialises in offering investment, credit, insurance and capital markets solutions to wealthy families, will now move to Boston.
He will be supported by client adviser Daniel Larsen, who has expertise in business transition, retirement income and goals-based financial planning.
SunTrust Private Wealth Management head Joe Thompson said: “Establishing an office in Boston is an important step in our Northeast expansion, and builds on our wealth management presence in New York City and Greenwich.
“New England has a high concentration of affluent individuals and families who will benefit from our goals-based financial planning process, investment expertise and banking solutions, allowing them to make confident financial decisions.”
In 2017, SunTrust opened a wealth management office in New York and hired Robert Weiss to spearhead its Northeast expansion.
Charles Swarns, who too works in the New York location, will head the Boston team.
Weiss stated: “Our approach to serving clients, combined with a comprehensive wealth management platform, is resonating with wealth management professionals throughout the Northeast.
“We will continue to recruit talented individuals and teams throughout the region who share our culture, and want to join our expanding wealth management practice.”