Thomas Carroll, the chief executive at GenSpring Family Offices, is transitioning into a new role within SunTrust Banks, the firm’s parent company.

Thomas Carroll, the chief executive at GenSpring Family Offices, is transitioning into a new role within SunTrust Banks, the firm’s parent company.

On August 1 Carroll will take on a newly-created role of head of division wealth management, while SunTrust’s Willem Hattink assumes the CEO post at GenSpring.

Hattink noted that the firm made a number of changes when Carroll was named as CEO two years ago (see an interview here) but described the latest news to Family Wealth Report as a “logical talent management move” for SunTrust, while saying that he doesn’t foresee any strategic change at GenSpring.

“It’s also an opportunity for Thomas to learn even more about the wealth management business within SunTrust,” he said. 

Hattink said he knows all the staff at GenSpring, having attended meetings with them on a quarterly basis for the last two years.

“I feel really good about the people that will be reporting directly to me,” he said.

Despite being wholly-owned by SunTrust, GenSpring is an independent RIA with its own governance structure and client base. One of Carroll's goals as GenSpring's new CEO in 2012 was to strengthen the relationship between the two. 

“The independence of the RIA within SunTrust will remain because we think it’s a model that resonates really well with our ultra high net worth clients,” Hattink said.

In addition, Hattink will continue to serve as head of SunTrust private wealth management specialty groups where he has oversight responsibility for international wealth management, the sports and entertainment group, and medical specialty group.

GenSpring has 14 family offices across the US.