The new entity will advise multi-jurisdictional families and international centers of influence, in addition to its existing client base.
Glenmede, the US wealth firm with $37 billion in assets under management, has set up a Delaware-based trust company, run separately from the existing business.
The Glenmede Trust Company of Delaware is designed to advise and serve multi-jurisdictional families and international centers of influence, in addition to an existing domestic client base, Glenmede said.
“As a member of the Delaware community since 1999, we are excited to expand the capabilities of our existing full-service Delaware office with the addition of a state-chartered trust company,” Geoff Rogers, president of GTCDE, said.
The new entity will operate collaboratively yet distinctly from The Glenmede Trust Company’s Delaware office, with GTCDE specifically offering investment management and fiduciary services for clients whose financial affairs are administered solely in Delaware.
Based in Philadelphia, Glenmede has offices in Ohio, Delaware, New Jersey, New York City, Palm Beach and Washington DC.