Atlanta-headquartered SunTrust Banks has named Ernest Dawal as chief investment officer for its private wealth management and institutional investment solutions businesses.

Dawal most recently served as executive vice president and senior director of investments at Wells Fargo Wealth Management. He was also the CIO for the wealth management unit of Wachovia before it merged with Wells Fargo. In his new role, he is responsible for all business units under the two divisions. He reports directly to Willem Hattink, the head of private wealth management and institutional investment solutions.

SunTrust records $170.8 billion in total assets and $124 billion in total deposits as of 31 March 2011.