SunTrust expands endowments and foundations unit

Alan McKnight was named managing director and head of institutional investments at SunTrust Bank, confirmed spokesman Hugh Suhr.

It is a new position. Mr. McKnight will join the foundations and endowments specialty practice within the firm’s wealth management business. He previously was partner and director of global investment strategy at Balentine. Jeff Adams, Balentine president and partner, said the firm is conducting a search for a replacement.

Joining Mr. McKnight in the practice are Laurie Bagley, senior vice president and senior investment adviser, and Quanda Allen, first vice president and client manager.

Ms. Bagley was previously a managing director at Commonfund. John S. Griswold, executive director, Commonfund Institute, did not return a phone call for further information by press time.

Ms. Allen previously was a senior philanthropic adviser at U.S. Trust/Bank of America.