Atlanta-based SunTrust Banks, which merged earlier this year by North Carolina-based BB&T in one of the biggest bank deals in more than a decade, is planning to open a wealth management office in Boston.

The company announced the new office in Boston earlier this week, as it continues to expand its wealth business all over the countryRick Tesh, a client advisor in the Greensboro, N.C. office of SunTrust Private Wealth Management, will relocate to Boston as part of the New England expansion. Throughout his more than 20-year career, Tesh has provided investment, credit, insurance and capital markets solutions to high net worth families.

Daniel Larsen also joins the Boston office of SunTrust Private Wealth Management as a client advisor. Larsen brings 20 years of experience serving high net worth families and institutional clients in Boston. He specializes in business transition planning, retirement income planning and goals-based financial planning.

“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,” Joe Thompson, head of SunTrust Private Wealth Management, said in a statement. “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.”

Since 2017, SunTrust has announced new wealth management offices in New York CityHoustonDallasCincinnatiCleveland and Los Angeles.

The New York office has grown to include a team of investment professionals including Charles Swarns who will lead the Boston team.

The new wealth office will not be SunTrust’s first presence in Boston. The company already operates in the city through a subsidiary investment bank, SunTrust Robinson Humphrey.

This article has been updated to reflect that SunTrust and BB&T have joined in a merger of equals.

Major Atlanta Bank Planning Wealth Office in Boston

by Banker & Tradesman time to read: 1 min
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