SunTrust Banks Inc. on Wednesday announced that it bought a San Francisco wealth manager that focuses on clients including professional athletes.
CSI Capital Management, which was established in 1978, has $1.5 billion of assets under management.
The acquisition expands SunTrust's Private Wealth Management division in Los Angeles and Atlanta; adds offices in Greenwich, Conn., Boca Raton, Fla., and San Francisco; and builds on its practice with wealthy athletes and musicians as well as in motor sports and film.
The price was not disclosed.
SunTrust Banks, which is based in Atlanta, had $170.8 billion of total assets at March 31. The SunTrust Sports and Entertainment Specialty Group has offices in Atlanta, San Diego, Los Angeles, Charlotte, N.C., Daytona Beach, Fla., and Nashville, Tenn.
