SunTrust to Expand Sports Business into San Diego Market
ATLANTA, Jan. 6 /PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE: STI) announced today that Todd LaRocca and Billy Crafton and their respective teams will join SunTrust Sports and Entertainment Specialty Group, forming a new San Diego office for its Private Wealth Management division.
Todd LaRocca, formerly the head of the San Diego office for San Francisco based CSI Capital Management, has joined SunTrust as a co-head of the San Diego office and Sports practice for SunTrust's Sports and Entertainment division. Over the past 10 years, LaRocca, a former Baltimore Orioles professional baseball player has worked as a Managing Director and principal for CSI Capital Management. He has built a wealth management practice primarily serving professional baseball players, in addition to entrepreneurs and affluent families.
Billy Crafton, formerly the principal of San Diego based Martin Kelly Capital Management, LLC, a Registered Investment Advisor, has also joined SunTrust and will serve as co-head of the San Diego office and Sports practice with LaRocca. Crafton brings over a decade of experience as an investment advisor to professional athletes and high net worth individuals. Crafton began his career at CSI Capital Management before founding Martin Kelly Capital Management in 2006.
"As the Official Bank of Music and the Official Bank of Motorsports, SunTrust has established its reputation as one of the premier banking and wealth management advisors to the sports and entertainment industry," says Thomas Carroll, Senior Vice President, SunTrust Investment Services, Inc., and Managing Director of the Sports and Entertainment Specialty Group. "Our strategy is to grow this business on a national scale with a targeted focus on professional athletes, specifically baseball players. This expansion is a great strategic fit that bring talented advisors with proven relationships with professional athletes to SunTrust. This is a new chapter for us and an important step as we build our sports practice to similar prominence as our music and motorsports practices."
The combination of LaRocca and Crafton's wealth management experience, reputation in the industry and proven client relationships are valuable assets to this growing business unit. Both LaRocca and Crafton will continue to be based in the San Diego area.
Currently serving clients in 38 states, the SunTrust Sports and Entertainment Specialty Group has offices in Atlanta, Charlotte, Daytona Beach, Miami, and Nashville. The group provides comprehensive wealth management services to musicians, artists and athletes and their representatives, including personal banking and credit, investment management, financial planning, insurance, trust administration, estate strategies and capital markets, as well as intellectual property lending and industry-specific financing. Through the affiliate SunTrust Robinson Humphrey, the group also serves the corporate needs of music and sports organizations and institutions.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2009, SunTrust had total assets of $172.7 billion and total deposits of $119.3 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.
Securities and Insurance Products and Services:
- Are not FDIC or any other Government Agency Insured
- Are not Bank Guaranteed
- May Lose Value
SunTrust Sports and Entertainment Specialty Group is a marketing name used by SunTrust Banks, Inc., and the following affiliates: Banking and trust products and services are provided by SunTrust Bank. Securities, insurance (including annuities and certain life insurance products) and other investment products and services are offered by SunTrust Investment Services, Inc., a SEC registered investment adviser and broker/dealer and a member of the FINRA and SIPC. Other insurance products and services are offered by SunTrust Insurance Services, Inc., a licensed insurance agency.
SOURCE SunTrust Banks, Inc.