GenSpring Family Offices, SunTrust’s multi-family office affiliate, has confirmed the closure of its Phoenix, AZ, location by the end of this month.  

“As we’ve looked at ways we can provide our services more efficiently and effectively without compromising our commitment to serving our clients’ individual needs, we determined that our Costa Mesa, CA, office had the depth and capability to broaden its area of service to include clients of our Phoenix location,” Thomas Carroll, chief executive at GenSpring, told Family Wealth Report.

Richard Dozer served as chairman of the Phoenix office and it is unclear at this stage to what extent Phoenix-based staff will be affected by the transition.

Carroll was named CEO in October 2012 and succeeded Maria Lagomasino, who decided to leave the firm. Earlier that year, GenSpring explained to this publication about how it is breaking down its service offering and segmenting clients to align their needs and services more closely.

Besides Phoenix and Costa Mesa, GenSpring has a presence in Atlanta, GA, Charlotte, NC, Denver, CO, Greenwich, CT, Miami, FL, Minneapolis, MN, Nashville, TS, New York, Orlando, FL, Palm Beach, FL, San Francisco, CA, Sarasota, FL, Tampa Bay, FL, and Washington, DC.