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SunTrust Nabs JPMorgan Exec for New Private Wealth Management Offices

By Alex Padalka August 9, 2018

A senior executive at JPMorgan’s Private Bank has joined SunTrust Bank's Private Wealth Management, according to a press release from SunTrust.

The move comes as SunTrust opens its new private wealth management offices in Cincinnati and Cleveland as part of its strategy to expand its reach in Ohio and Northern Kentucky, the company says. Virginia Kuertz will serve as the Ohio division executive in Cincinnati, where she’s been working in banking for 34 years, according to SunTrust. Before joining SunTrust, she was JPMorgan Private Bank’s managing director for Southwest Ohio and Northern Kentucky, according to the press release.

SunTrust also recruited Karen Dulaney to head the new Cleveland office for its private wealth management division, the company says. Dulaney has been working in Cleveland for 31 years, the past 22 of which she focused on advising ultra high net worth clients, according to the press release. Dulaney comes from KeyBank, where she was a “certified wealth strategist,” according to her LinkedIn profile.

Before KeyBank, Dulaney was also at JPMorgan Private Bank from 2011 to 2016, according to LinkedIn.

“Our wealth management team will help affluent families and institutional clients throughout Ohio and Northern Kentucky make confident financial decisions by delivering investment management, banking solutions and goals-based financial planning,” Joe Thompson, head of SunTrust Private Wealth Management, said in a press release, referring to the new Cincinnati and Cleveland offices. “Middle-market companies throughout the region have seen their businesses grow faster than the national average; in partnership with our commercial team we will advise entrepreneurs who are exploring the sale of their business.”

(Getty)

JPMorgan’s wealth management business has been on a tear in recent months, posting $755 million in net income in the second quarter, a 21% rise over the previous quarter. Meanwhile, assets under management in the division have reached $2.6 trillion.