GenSpring adds family investment officer

GenSpring Family Offices LLC said today that it has hired Puneet S. Sahi as a family investment officer for its Costa Mesa, Calif., office. In this job, Mr Sahi will work on investment policy, asset allocation, investment manager selection and portfolio reviews for clients, according to a release. He has more than 10 years of experience and comes directly from U.S. Trust Corp., where he was a portfolio manager working on analyzing individual securities and building investment portfolios for clients. GenSpring has been focusing on the California market. It’s its second hiring announcement for that state this month; on June 8, the firm hired Mark A. Mushkat, formerly a managing director at Harris myCFO Inc., to lead its expansion efforts in Northern California. GenSpring is the largest registered investment adviser by assets under custody, with about $11 billion in discretionary assets. It is an affiliate of SunTrust Banks Inc.