Mark Peters, former head of U.S. Private Wealth Management at Deutsche Bank, has been tapped to run SunTrust Banks PWM. The 26-year wealth management pro will be based in Atlanta and report to William Rogers, head of Wealth & Investment Management. Rogers did not return calls, and Peters had not yet joined the firm and could not be reached.
Peters will be in charge of all private wealth management efforts including international wealth management, the sports and entertainment banking group, personal asset management, investment services and the insurance platform. His hire comes less than a year after the bank’s consolidation of its Private Bank and Private Client Services units under the Private Wealth Management umbrella, targeting clients with a minimum of $500,000 (PAM, 8/29).
Peters joined Deutsche Bank last year as one of a trio of big hitters the firm hired away from Citigroup Private Bank, who were subsequently accused of violating non-compete clauses and taking client records from Citi (PAM, 12/15). While at Citi, he culminated as head of the U.S. high-net-worth group and was also in charge of U.S. trust, investments and custody businesses.