Bessemer taps ex-SunTrust Banks advisor to extend reach in southeastern U.S.. Multifamily office Bessemer Trust has hired former SunTrust Banks executive Michael Gragnani as a senior-v.p.-level business-development officer in its Atlanta office, a new position. He reports to Katherine McMaster, Bessemer's senior resident officer in Atlanta.

Seven states

"Michael has demonstrated his ability to establish close relationships with wealthy families that seek a fully-integrated solution to their investment, estate planning and wealth management needs," says McMaster.

Gragnani joined principal Christopher Allen as the second business-development officer in Bessemer's Atlanta office in mid August 2008.

Bessemer added the additional business-development officer to help Allen cover a seven-state region in the southeastern U.S. As a client advisor with the Private Wealth Management division of Atlanta-based SunTrust, Gragnani's responsibilities included business development and account management for individuals and families, among them attorneys served by the bank's Legal Specialty Group.

In his new role with Bessemer, Gragnani will develop relationships with a wide variety of clients, but his experience working with law professionals "provides an excellent entree into the intermediary referral network," according to a spokeswoman for the firm.

Founded in 1907 as the Henry Phipps family office, New York-based Bessemer oversees more than $56 billion across roughly 1,900 relationships.

In addition to Atlanta and its headquarters in New York, Bessemer has offices in Boston, Chicago, Dallas, Los Angeles, Miami, Naples, Fla., Palm Beach, Fla., San Francisco, Washington, D.C., Wilmington, Del., Woodbridge, N.J., London and Grand Cayman on the Cayman Islands.-FWR

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