Cary Street Partners, a Shockoe Slip-based investment banking and wealth management firm has opened an office in Charlotte, N.C.
It’s the firm’s seventh location and will be the latest location for its wealth management practice.
The move to expand into Charlotte came about for two reasons, according to Tom Tullidge, one of Cary Street’s founding partners.
“One, Charlotte is an attractive market,” said Tullidge. “And [the new employees] are great people who had a solid business of relationships.”
Cary Street Partners lured a team of wealth managers away from other firms including GenSpring and Deutsche Bank to man the new office. It will have three employees on the ground in Charlottte, bringing the firm-wide employee total to the mid-50s.
In addition to its headquarters in Richmond and the new Charlotte location, the firm has offices in Abingdon, Va., Atlanta, Fredericksburg, Greensboro and Wytheville, Va.. It was founded in 2002.
Cary Street Partners’ will continue to look for expansion opportunities, Tullidge said, both in terms of opening new locations and adding employees to its current offices.
Tullidge said the wealth management business has been steady of late, thanks in part to the stable stock markets.
“On the wealth management side, the markets have remained strong and that’s obviously very helpful when you’re managing assets.”
The firm now manages nearly $2 billion in client’s assets.
The investment banking side has also shown signs of life.
“In investment banking, deal flow has picked up in both and the quantity and quality of opportunities we’re seeing is very solid.”
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].
Cary Street Partners, a Shockoe Slip-based investment banking and wealth management firm has opened an office in Charlotte, N.C.
It’s the firm’s seventh location and will be the latest location for its wealth management practice.
The move to expand into Charlotte came about for two reasons, according to Tom Tullidge, one of Cary Street’s founding partners.
“One, Charlotte is an attractive market,” said Tullidge. “And [the new employees] are great people who had a solid business of relationships.”
Cary Street Partners lured a team of wealth managers away from other firms including GenSpring and Deutsche Bank to man the new office. It will have three employees on the ground in Charlottte, bringing the firm-wide employee total to the mid-50s.
In addition to its headquarters in Richmond and the new Charlotte location, the firm has offices in Abingdon, Va., Atlanta, Fredericksburg, Greensboro and Wytheville, Va.. It was founded in 2002.
Cary Street Partners’ will continue to look for expansion opportunities, Tullidge said, both in terms of opening new locations and adding employees to its current offices.
Tullidge said the wealth management business has been steady of late, thanks in part to the stable stock markets.
“On the wealth management side, the markets have remained strong and that’s obviously very helpful when you’re managing assets.”
The firm now manages nearly $2 billion in client’s assets.
The investment banking side has also shown signs of life.
“In investment banking, deal flow has picked up in both and the quantity and quality of opportunities we’re seeing is very solid.”
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].