Bank vows to maintain local focus on clients' fiduciary and planning needs. Commercial bank Brown Brothers Harriman plans to convert its New York trust company to a national charter to enhance its ability to serve private and institutional clients. The new outfit, Brown Brothers Harriman Trust Company, N.A., will have offices in New York, Chicago, Boston, Philadelphia, Charlotte, N.C., and Palm Beach, Fla.

All 50

Getting its principal trust unit a national charter will help "grow our wealth management and institutional trust businesses and better serve the fiduciary, tax, and wealth planning needs of clients across our business lines," says Brown Brothers managing partner Michael McConnell. "We can more easily do business in all 50 states, enabling us to serve our clients wherever they live."

James Bertles, president and COO of the new trust company as well as another managing director of Brown Brothers, says that though the trust company is growing its commitment to serving its clients "with local, experienced, responsive professionals remains the same." As an example, he says the trust company's staff is committed to "continuing to help our individual clients with fiduciary, tax, and wealth planning issues both general and specific to their regions."

Brown Brothers Dallas-based Texas trust company will keep its state charter. The company also plans to establish a distinct Delaware trust company.

New York-based Brown Brothers says it oversees about $42 billion in client assets, including over $16 billion for affluent families and individuals. --FWR

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