Champaign, IL-based First Busey Corporation has launched Trevett Capital Partners, a private wealth management model catered to high net worth clients in Southwest Florida.

Trevett provides asset management, investment, foundation and endowment management services, retirement and financial planning, private banking and trust, and estate administration to individuals, businesses and foundations.

It will be a unit of Busey Bank operating on a fiduciary platform, the firm said, and using the same operating and investment foundation as Busey Wealth Management, which as of September 30 managed some $4.1 billion in assets.

"We launched Trevett Capital Partners under a new brand in Southwest Florida to honor and incorporate an important piece of our heritage," the firm said. The name is linked to legacy firms on which First Busey was built, dating back to 1861. 

Joining the Trevett management team are: Brent Crawford, executive vice president and senior managing director; Brian O'Toole, executive vice president, senior managing director and head of investment management; Marcia Hobe, senior vice president and fiduciary officer; Kathy Bright, also senior vice president and fiduciary officer, and Heather Cartright, assistant vice president.

In addition, Bob Ballsrud, senior managing director and chief investment officer of Busey Wealth Management and Busey Trust Company, will relocate to Florida to assist in the integration of Trevett Capital Partners. The firm said he will work with the Trevett team in developing new business, evaluating and refining the investment and portfolio management process, and overseeing the general integration of the team into the Busey organization.