New trust company offers wealthy families the benefits of
Delaware law
WILMINGTON, DE, April 15, 2015 /PRNewswire/ - Atlantic
Trust, the U.S. private wealth management division of CIBC
(NYSE: CM) (TSX: CM), announced today that it has received a
Delaware limited purpose trust
charter, enabling the firm to offer trust services beyond that
already provided by its national trust company.
The state of Delaware has long
been known as a leader in trust laws, offering wealthy clients more
advantageous tax benefits, investment flexibility, control over
trust terms and asset protection.
"As a leading advisor to families of wealth, Atlantic Trust is
pleased to offer this important and valuable new trust service that
can help our clients protect and maximize their wealth," said
Jack Markwalter, chairman and CEO of
Atlantic Trust. "We're so pleased to introduce this service and to
announce that it's being led by two senior and experienced
professionals already in our firm, people who know our clients very
well and their expectations on quality and service."
Leading the Delaware trust team
are Dee Ann Schedler, managing
director and head of Atlantic Trust's Wilmington office, and Gabrielle Bailey, wealth strategist and director
of Delaware Trust Services.
"Although our status as a nationally chartered trust might have
been sufficient, we decided that the more prudent way to go was to
also obtain a Delaware trust
charter," said Markwalter. "Other states have attractive trust
laws, but Delaware has always been
considered a preferred jurisdiction for trust and estate attorneys
because of its trust law flexibility and significant body of case
law and excellent Chancery Court."
Schedler has 28 years of industry experience and joined the firm
in 2004. Bailey has more than 15 years of industry experience and
joined Atlantic Trust in 2003. Reema
Antonelli also recently joined the Wilmington team as a senior client service
manager.
About Atlantic Trust
Atlantic Trust is one of the nation's leading
private wealth management firms, offering integrated wealth
management for high-net-worth individuals, families, foundations
and endowments. The firm considers clients' financial, trust,
estate planning and philanthropic needs in developing customized
asset allocation and investment management strategies. Experienced
professionals deliver a broad range of solutions, including
proprietary investment offerings and a robust open architecture
platform of traditional and alternative managers. Atlantic Trust
operates in 13 full-service locations throughout the U.S. with
$27.0 billion in assets under
management (as of March 31, 2015).
For more information, visit www.atlantictrust.com.
About CIBC
CIBC is a leading Canadian-based global
financial institution. Through our Retail and Business Banking,
Wealth Management and Wholesale Banking businesses, CIBC provides a
full range of financial products to individual, small business,
commercial, corporate and institutional clients in Canada and around the world. CIBC owns a 41
percent equity interest in American Century Investments®, a major
U.S. asset management company, serving financial intermediaries,
institutions and individuals, and acquired Atlantic Trust, a
premier U.S. private wealth management firm, in January 2014. You can find other news releases
and information about CIBC in our Media Centre on our corporate
website at www.cibc.com.
SOURCE Atlantic Trust Private Wealth Management