AST Acquires Capital Trust Company of Delaware

In its announcement, AST said the acquisition creates an organization with approximately $19 billion in trust assets under administration.   The acquisition is effective immediately, and Capital Trust will initially continue to operate under its own name.

The merger will create increased scale and a broader national presence with offices in New York, Phoenix, Wilmington, Denver, and Portland, Oregon for both companies.  The resultingcompany 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 critical mass in the broker/dealer and independent advisor communities,” said Nicholas Peters, Executive Vice President at AST, in the announcement.  “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.

Clients will not need to sign new agreements or change any documentation for their accounts.

AST 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.   Its Web site is  www.asttrustco.com .