SunTrust buys California money manager to sports stars

SunTrust Banks said Wednesday it has acquired a West Coast wealth management firm that specializes in managing money for pro athletes.

The Atlanta-based bank said CSI Capital Management of San Francisco will fold into the sports and entertainment practice of SunTrust's Private Wealth Management division.

SunTrust has long operated its own specialty division catering to the wealth management and banking needs of entertainers and athletes, as well as film and music companies.

CSI Capital has about $1.5 billion in assets under management, with offices in California, Atlanta, Florida and Connecticut, according to a news release. SunTrust does not disclose the size of its sports and entertainment group.

Terms of the deal were not disclosed.

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