GenSpring Opens Charleston Family Office

GenSpring Family Offices and Kiawah Capital Team Up in Joint Venture
PALM BEACH, Fla.--(Business Wire)--
GenSpring Family Offices, the market leader among independent advisors,
announced today a partnership with Kiawah Capital, LLC to launch GenSpring`s
newest family office in Charleston, South Carolina. Chris Cecil, President of
GenSpring`s Charlotte, North Carolina family office will lead the new office in
serving the sophisticated wealth management needs of wealthy families.

Its concentration of wealthy families makes Charleston a good fit for
GenSpring`s suite of services. "Every day it becomes more evident that wealthy
local families need an alternative to the banking and brokerage models to
oversee and manage their financial lives, and increasingly they are choosing
GenSpring Family Offices to do just that," said Chris Cecil. "Together with
Kiawah Capital we will work to put control, power, knowledge and opportunity
squarely back on their side of the table."

Joining Mr. Cecil is Mike Henderson, Senior Partner with GenSpring and former
head of Arthur Andersen`s Family Wealth Planning practice in the Carolinas. In
addition, Ron Owens, President of Kiawah Capital, and Dan Prickett, former
Managing Executive of Calibre (formerly the multi-family office arm of Wachovia
Wealth Management) and current resident of Kiawah Island, will be officers in
the new venture.

"For a long time my family searched for the `best of the best` to deliver
services that met our unique wealth management needs," said Buddy Darby,
Chairman and Chief Executive Officer of Kiawah Development Partners. "After our
positive first-hand experience working with GenSpring we realized that other
families in the Lowcountry would benefit from the long-term value and discipline
of the multi-family office structure. We are excited to partner with GenSpring
in Charleston to help local families achieve their intergenerational wealth
management goals."

"This capability and local expertise is something that wealthy families need
here in Charleston," said Ron Owens. "I think people will be pleasantly
surprised when they learn about the difference having a GenSpring family office
can have on the overall results of their wealth management." Dan Prickett added
that, "GenSpring is a leader among family offices. They have emerged nationally
and internationally as a leading alternative to traditional wealth management
firms and will bring a unique perspective and breadth of experience to
Charleston."

GenSpring`s Charleston family office will be located at 8 North Adger`s Wharf in
Charleston`s Historic Downtown District.

About GenSpring Family Offices

Founded in 1989, GenSpring Family Offices, an affiliate of SunTrust Banks, Inc.
(NYSE:STI), is one of the nation`s premier wealth management firms for
ultra-high net worth families. With nearly $19 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 and is a rapidly emerging alternative to traditional wealth
management firms. GenSpring is headquartered in Palm Beach Gardens, Florida and
has 15 local family offices in Atlanta, Charleston, Charlotte, Costa Mesa,
Denver, Greenwich, New York City, Miami, Nashville, Orlando, Palm Beach,
Phoenix, Tampa Bay, Sarasota, and Washington, DC. GenSpring was named 2008
Multi-Family Office of the Year by Institutional Investor and ranked #1
independent advisor in Financial Advisor magazine`s 2009 RIA Ranking of
Independent Advisors. For more information on GenSpring Family Offices please
visit www.GenSpring.com.

About Kiawah Capital

Kiawah Capital, LLC is a family investment office of Kiawah Development
Partners, who are the developers and owners of Kiawah Island. Kiawah Capital
provides equity and debt funding as well as management support to privately
owned, small to middle market enterprises based in the Carolinas, Georgia and
Florida for purposes of facilitating growth plans, recapitalizations and
buyouts. For more information on Kiawah Capital, please visit
www.kiawahcapital.com.

About Kiawah Development Partners

Kiawah Development Partners is the master developer of Kiawah Island, a
10,000-acre barrier island located 21 miles south of Charleston, South Carolina.
The company`s subsidiaries include Kiawah Island Real Estate; The Kiawah Island
Club, which encompasses the Tom Fazio-designed River Course, the Tom
Watson-designed Cassique, The Beach Club by Robert A.M. Stern and Sasanqua, the
Members-only spa; Freshfields Village; Doonbeg Golf Club in Ireland; and
Christophe Harbour in St. Kitts. For more information, visit www.kiawah.com.

The Kaufman Group
Chuck Kaufman, 617-641-9005
ckaufman@tkgresults.com
or
GenSpring Family Offices
Rosemary Denney, 561-354-0875
rosemary.denney@genspring.com

Copyright Business Wire 2009