SunTrust Banks Acquires CSI Capital Management Assets

May 11 2011 | 11:20am ET

Atlanta-based SunTrust Banks has expanded its private wealth management division, which caters to high-net-worth clients in the sports and entertainment world, by acquiring the assets of CSI Capital Management.

Established  in 1978, San Franciso-based CSI focuses on the financial and investment needs of high-net-worth clients, particularly professional athletes, and has about $1.5 billion AUM.

The acquisition expands SunTrust’s private wealth division in Los Angeles and Atlanta and adds offices in Greenwich, Boca Raton and San Francisco. Terms of the agreement were not disclosed.

"SunTrust continues to build its client base and reinforce its reputation as a leading wealth and investment management group through its strategic acquisition of assets of CSI Capital Management, one of the premier wealth management groups in California," said Thomas Carroll, managing director of SunTrust sports and entertainment specialty group. 

"Our experience helps successful artists, athletes and entertainers—and others affiliated with the business of sports and entertainment—achieve their financial goals.  We welcome the wealth management experience, reputation and proven client relationships represented by the people, brand and capabilities of CSI Capital Management."

SunTrust Banks serves a broad range of consumer, commercial, corporate and institutional clients. As of March 31, 2011, SunTrust had total assets of $170.8 billion and total deposits of $124.0 billion.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note