An investment subsidiary of Crestar Financial Corp. has opened an institutional sales office in Baltimore.
Crestar Investment Group's Baltimore office will buy and sell securities for large Maryland investors such as insurance companies, municipalities and professional money managers.
The office will be staffed by Sarah S. Pelletier and William G. Kadel Jr., who previously worked at Baltimore-based Alex. Brown Inc.
"Now that we are a Baltimore bank we feel like we need to address the investment needs of our clients in the area," said Ronald L. Thomas, managing director of institutional sales with Crestar Investment Group. "There is nothing like being part of the investment community. As we go forward we will be looking to add more people."
Richmond, Va.-based Crestar Financial has $22.8 billion in assets, operates 375 branches, including 114 in Maryland.
Pelletier worked for Alex. Brown for 15 years, and Kadel was with the firm for four. He worked for Salomon Brothers Inc., New York, prior to joining Brown.
"Being able to attract this kind of talent was a great situation for us," Thomas said.
Pub Date: 8/05/97
