Fiduciary Trust Company International
Fiduciary Trust Company International has served high-net-worth families, foundations, and endowments since 1931. The firm has $75 billion in assets under administration and management, serving clients in 23 countries. The firm and its subsidiaries maintain offices in New York City, Coral Gables, FL, Boca Raton, FL, Los Angeles, CA, San Mateo, CA, Washington, D.C., Wilmington, DE, and London.
Fiduciary Trust provides investment management and wealth management services including trust and estate planning and administration, manager selection and monitoring, charitable giving, advanced tax planning and master custody and safekeeping. It invests clients’ assets in public equity, fixed income, and alternative markets across the globe.
In 1931, Fiduciary Trust Company of New York opened for business on the 30th floor at One Wall Street in New York City. Fiduciary Trust was founded as a multifamily office to better serve the needs of wealthy individuals and families amidst the financial crisis of the time. Pierre Jay, a former chairman of the Federal Reserve of New York, and Elihu Root, Jr., a noted lawyer and son of the Secretary of State, served among the firm's first directors.
By the 1960s, the firm had broadened its reach and as a result opened its first international office in London in 1961 to concentrate on the research and analysis of non-U.S. companies. This made Fiduciary Trust one of the first firms to embrace global investing.
The firm continued to evolve and in 1981 opened a Los Angeles office to reach the Western and Southwestern U.S. markets, giving them offices in New York, London, Geneva and now Los Angeles. As a reflection of the firm’s global presence, the company changed its name in 1987 from Fiduciary Trust Company of New York to Fiduciary Trust Company International.
Starting in the 1990s, the firm saw a period of significant growth. The firm opened an investment management office in Washington, D.C. and was granted a Cayman trust company charter in 1990, and then in 1992 formed Fiduciary Trust Company International of the South, a subsidiary created by acquiring the Miami-based Trust Company of the South. This gave the firm trust powers in Florida. By 1998, the firm had also formed Fiduciary Trust International of Delaware.
In 2001, Fiduciary Trust was acquired by San Mateo, California-based Franklin Resources, Inc., which broadened each firm's product and service offerings. Together, Franklin and Fiduciary Trust met the investment management and service needs of financial advisors, private clients and institutions worldwide. With the merger, Fiduciary Trust continued to grow its presence on the west coast with the opening of a San Mateo office.
Fiduciary Trust International of the South continued to grow its presence in South Florida with the opening of an office in Boca Raton in 2013. Two years later, in 2015, Fiduciary Trust Company International of the South relocated its Miami headquarters to 2 Alhambra Plaza in Coral Gables. The move further strengthened the firm’s presence in the South Florida community and allowed the firm to accommodate the evolving needs of clients. Then, in 2016, Fiduciary Trust moved its New York headquarters to 280 Park Avenue.
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- "Franklin Resources has completed its acquisition of Fiduciary Trust Company International, boosting its assets under management by $45.1 billion to $260.8 billion". Private Asset Management. April 11, 2001.
- Epstein, Barry (November 13, 2013). "Page Two; Barrys Buzz Nov. 13, 2013". The Boca Raton Tribune.
- "Fiduciary Trust Completes the Relocation of Its Miami Headquarters". CityBizList. July 22, 2015.
- Kitchen, Mark (June 29, 2016). "Fiduciary Trust Company International completes relocation of New York HQ". Wealth Adviser.
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