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A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds, central banks, insurance companies), asset managers, banks and broker-dealers.
WSFS Institutional Services, a division of WSFS Bank, offers owner and indenture trustee services for asset-backed securities, indenture trustee for corporate debt issuances, administrative and collateral agent for the leveraged loan market, as well as custody, escrow, verification agent and independent director services.
State Street Bank and Trust Company (SSBT), commonly known as State Street Global Services, is a subsidiary of State Street Corporation organized as a trust company based in Massachusetts. The company is the largest custodian bank in the world and specializes in providing institutional investors , such as mutual funds , with clearing ...
Other than M&T Bank, Northern Trust was the only bank in the S&P 500 Index not to lower its dividend during the financial crisis of 2007–2008. [ 25 ] In November 2008, the United States Department of the Treasury invested $1.5 billion in the company as part of the Troubled Asset Relief Program and in June 2009, the company repurchased the ...
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trustee of various kinds of trusts.
Wilmington Trust was founded on July 8, 1903, by T. Coleman du Pont, then the president of DuPont, to manage the growing fortune of the duPont family. [2] DuPont opened the business in the dining room and parlor of a former private residence at 915 Market Street in Wilmington, Delaware, with a handful of investors and $500,000 in market capitalization.
These services are provided by a person or firm – such as a bank, trust company or registered investment adviser (RIA) — serving as a trustee, executor, personal administrator or discretionary agent having direct responsibility for managing assets for or on behalf of individuals and families, as well as estates, trusts, private foundations ...
Bank of America Private Bank (formerly U.S. Trust) was founded in 1853 as the United States Trust Company of New York. [1] It operated independently until 2000, when it was acquired by Charles Schwab, and Co. [ 2 ] and subsequently sold to, and became a subsidiary of, Bank of America in 2007. [ 3 ]
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related to: banks that offer trustee services