PALM BEACH, Fla. – June 24, 2009 – GenSpring Family Offices, the wealth management firm for ultra-high net worth families, announced today the hiring of Bruce L. Paulson. Bruce joins GenSpring as Director and will lead the firm’s Midwest expansion from Minneapolis. Mr. Paulson is an expert on after-tax investing and asset location issues and brings more than 20 years of experience working with wealthy families to GenSpring.

“Bruce exemplifies why wealthy families have made GenSpring the leading alternative to traditional wealth management firms. He possesses extensive experience, holds to the highest ethical standards, and demonstrates total devotion to his clients,” said Maria Elena Lagomasino, CEO of GenSpring. “I know that Bruce’s leadership in Minneapolis will ensure that we are able to bring GenSpring’s deep resources and unconflicted advice to families in the Twin Cities and across the Midwest who are looking for a wealth management relationship in which they can trust completely.”

“I am excited to join GenSpring,” said Bruce Paulson. “The recent events in the global economy have caused investors to lose trust in their traditional service providers.  In contrast, GenSpring focuses exclusively on advising wealthy individuals and families and brings unprecedented control, power and knowledge to their side of the table without any conflicts of interest.  I’m pleased to introduce GenSpring’s unique service offering to the Minneapolis community and to begin offering wealthy families throughout the Midwest a better alternative. Our business will appeal to families with multi-generational needs and concerns who value conflict-free transparent advice and solutions, tailored to their personal needs and interests.”  

Once limited to a few of the world’s wealthiest families, the benefits of the family office are rapidly becoming known to a wider circle of ultra-high net worth clients. The market leader among family offices, GenSpring now serves more than 700 families around the world, guiding them in their financial lives. Unlike traditional wealth management firms, GenSpring’s family offices combine comprehensive wealth management advice with the world’s most compelling opportunities with no conflicts of interest.

 
About Bruce L. Paulson
Bruce Paulson is a Certified Public Accountant and attorney. He has 20 plus years experience working with families of wealth, which includes 10 years at Arthur Andersen and several years at US Bank and, until of late, U.S. Trust Corporation. He is an avid contributor to Journal of Wealth Management, having published these and other articles: “Asset Location and Integration: Several Old and New Ideas”, Journal of Wealth Management, Winter, 2008; “Separate Account Equity Index: The Active Arrow in the Advisors Quiver”, Journal of Wealth Management, Summer, 2005; “Integration of Hedge Funds and Wealth Transfer Structures”, Bruce L. Paulson, Journal of Wealth Management, Fall 2003; “Charitable Lead Trusts”, Bruce L. Paulson, Journal of Wealth Management, Summer 2002; and “The Economics of Charitable Remainder Trusts”, Bruce L Paulson, Journal of Wealth Management, Winter 2000.

About GenSpring Family Offices
Founded in 1989, GenSpring Family Offices, an affiliate of SunTrust Banks, Inc.

(NYSE:STI), is the nation’s premier wealth management firm for ultra-high net worth families. With nearly $16 billion in assets under advisement, GenSpring, including its affiliate GenSpring International, LLC, has been chosen by more than 700 families around the world to manage their wealth for generations. GenSpring is headquartered in Palm Beach Gardens, Florida and has 15 local family offices in Atlanta, Charlotte, Costa Mesa, Denver, Greenwich, New York City, Miami, Nashville, Orlando, Palm Beach, Phoenix, Tampa Bay, Sarasota, and Washington, DC. Named 2008 Multi-Family Office of the Year by Institutional Investor, GenSpring was also recognized as one of the fastest growing multi-family offices of the year by Family Wealth Alliance. For more information please visit www.GenSpring.com.

###