CNLBancshares, the holding company for Orlando-based CNLBank, said it is to expand its services to include private banking. CNLBank Private Banking will offer specialised products for the medical and professional communities, including personal banking, credit services and wealth management. Last year CNL acquired Capital Management Group, one of the largest investment advisory firms in Florida, to create CNLBank Wealth Management, which had over $700 million in assets under management as of 30 September 2007. CNLBank Private Banking will provide clients with a single point of contact for financial needs. "Strategic investment planning combined with private banking expertise will allow our clients to achieve greater financial success, both personally and professionally," said Michael Collins, president and chief executive of CNLBancshares. "This move was a natural progression as we continue our focus on business professionals and entrepreneurs." CNLBank Private Banking has hired a team of bankers including Glenys Blenden and Jennifer Reynolds from SunTrust, and Trish Teague, a former Wachovia private banker.