The tech Mecca known for minting a steady stream of millionaires is seeing wealth managers expand turf there.

Boston Private is breaking ground in San Francisco with a new downtown office at 255 Battery Street, replacing its previous location on California Street. The new location will offer a full suite of financial services, including deposit, lending and wealth management for individuals, businesses and nonprofits, the firm said, as it continues to carry through ambitious plans to expand its US footprint and grow AuM.

Though wealth creation in the Bay Area has been thwarted lately by a disappointing run of high-profile IPOs, and by many other well-financed tech disrupters choosing to stay private for longer, the rambunctious tech hub is not about to lose its millionaire-minting status just yet.

Launching a new office in the heart of the financial district follows Boston Private's recent decision to base its Western regional headquarters in the city at 100 Pine Street. The two offices, led by John Longley, who joined as regional president in September, currently support 35 employees, with plans to hire more, the firm said.

“Our new offices represent Boston Private’s commitment to the West Coast and the Bay Area in particular,” where the firm is "looking forward to delivering thoughtful advice, service and solutions to clients,” Longely said. The firm also serves notable wealth pockets in Northern California with locations in Burlingame, Los Altos, Palo Alto, San Jose and San Mateo.

Its wealth management ambitions were on show in September when the group announced a merger with KLS Professional Advisors Group to form one of the largest RIAs in the US by measure of client assets. FWR reported on the details of the buyout.

The Boston-based firm has also hired several veteran managers in recent months in support of CEO Anthony DeChellis' plans to scale up by hiring top managers who can bring clients with them, rather than rely on acqusitions. DeChellis has a proven track record in this area, building up successful US wealth management businesses for both Credit Suisse and UBS. He came on board a year ago to steer Boston Private’s assets under management to a target of $50 billion from roughly $22 billion currently managed by the group.