AST Trust Company Acquires the Capital Trust Company of Delaware.PHOENIX -- AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. Trust Company: --Transaction Builds Critical Mass in Advisor Community --Enhances Service Capabilities for Capital Trust Clients AST Trust Company ("AST"), a division of American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Stock Transfer & Trust Company, announced today that it has acquired The Capital Trust Company of Delaware Delaware, state, United States Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). ("Capital Trust"). The acquisition, effective immediately, creates an organization with approximately $19 billion in trust assets under administration. Capital Trust will initially continue to operate under its own name. "Capital Trust is an excellent fit for AST because of its strong commitment to providing personal trust services to the independent advisor community," said Greg Tschider, President of AST. "Due to the natural synergies between the companies, the acquisition of Capital Trust is an opportunity for us to further enhance our trust administration capabilities and service offerings." The merger will deliver significant value to both companies' clients, including increased scale and a broader national presence with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Phoenix, Wilmington, Denver, and Portland, Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. . The resulting company retains its status as a Delaware chartered trust company, thereby allowing its clients to continue to take full advantage of doing trust business in Delaware. "The acquisition significantly adds to our private client trust assets under administration and allows us to accumulate Accumulate Broker/analyst recommendation that could mean slightly different things depending on the broker/analyst. In general, it means to increase the number of shares of a particular security over the near term, but not to liquidate other parts of the portfolio to buy a security critical mass in the broker/dealer and independent advisor communities," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Nicholas Peters, Executive Vice President at AST. "Capital Trust's clients will benefit from the extensive resources and solutions offered through AST's Private Client Services and Retirement Plan Services groups. Our model allows our advisor clients to work with one trustee for comprehensive retirement and personal trust solutions," he said. The change in ownership is expected to be seamless. Clients will not need to sign new agreements or change any documentation for their accounts. About AST Trust Company AST Trust Company (www.asttrustco.com), a division of American Stock Transfer & Trust Company, is an independent trust company that provides directed trustee, trust administration and back-office services to financial advisors who serve individuals, families, companies, foundations, organizations and financial institutions. AST is one of the largest independent trust companies in the U.S. Founded in 1971, American Stock Transfer & Trust Company -- the nation's largest, independent stock transfer and trust company -- currently services more than six million shareholder accounts on behalf of more than 2,500 public company equity issuers. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with trust operations based in Phoenix, American Stock Transfer & Trust Company has been recognized as the number one transfer agent in the U.S. seven years in a row by Group Five's Shareowner share·own·er n. See shareholder. Noun 1. shareowner - someone who holds shares of stock in a corporation shareholder, stockholder investor - someone who commits capital in order to gain financial returns Services Corporate Satisfaction Study. About The Capital Trust Company of Delaware The Capital Trust Company of Delaware (www.ctcdelaware.com), which has over $900 million of personal trust and donor-advised fund assets Fund assets The total value of a portfolio's securities, cash, and other holdings, minus any outstanding debts. , works exclusively with professional advisors in helping their clients achieve personal financial goals by utilizing trust strategies and the benefits of Delaware law. It serves as the trustee of personal trusts of all kinds and of the U.S. Charitable Gift Trust, a national donor-advised fund charity. |
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