First Republic Bank Opens Delaware Trust Company |

First Republic Bank has opened a trust company in Delaware as it looks to gain a greater market share of affluent households.

First?Republic Bank, a leading private bank and wealth management company,? announced the opening of a new trust company in?Delaware?and named Managing Director and Senior Trust Officer?John McCabe?to run its operations.

First Republic?s new trust company will allow clients to realize the advantages of?Delaware?trusts. These trusts can offer significant income and estate tax benefits, as well as greater flexibility to establish multi-generational trusts, including Dynasty Trusts.

First Republic Trust Company of Delaware?is part of?First Republic Private Wealth Management, which provides customized wealth management solutions, including trust, investment management and brokerage services, to high net worth individuals and families, foundations, and endowments. First Republic Private Wealth Management complements First Republic?s comprehensive private banking and business banking capabilities.

?First Republic Trust Company of?Delaware?now offers our clients more solutions to effectively manage and transfer wealth across generations,? said?Michael Harrington, President of?First Republic Trust Company. ?First Republic?s new?Delaware?trust capabilities are designed to meet growing demand from our clients across the country who want the broadest range of solutions delivered with First Republic?s brand of exceptional service.?John McCabe?is a highly experienced trust executive who shares First Republic?s commitment to service excellence.?

Chartered in?California,?First Republic Bank?already has trust powers in? California,?Connecticut,?Massachusetts,?Nevada,?New York?and?Oregon. The new?Delaware?trust subsidiary will expand those capabilities for clients seeking to create trusts using Delaware?s favorable laws. As of?December 31, 2011,?First Republic Trust Company?had more than?$4.6 billion?in assets.?First Republic?Trust Company?s open architecture model provides clients with maximum choice and flexibility. First Republic?s trust officers, who have an average of 22 years of trust experience, coordinate interaction among a client?s existing advisors and investment managers.

First Republic Trust Company?can serve as Trustee, Successor Trustee, or Co-Trustee on many types of personal trusts, including marital, irrevocable and charitable trusts. First?Republic?also serves as Executor or Co-Executor for estate settlements.

Prior to joining?First Republic, McCabe worked at?Goldman Sachs Trust Company?and?Neuberger Berman Trust Company. Before that, he practiced law for five years. McCabe has a Bachelor of Arts degree from?University of Delaware. He also earned a Juris Doctorate from the?Villanova University School of Law?and a Master of Laws in taxation from?Villanova. He holds the?Certified Trust?and Financial Advisor designation and is a member of the Philadelphia Estate Planning Council?s Board of Directors.

About?First Republic Bank

First?Republic Bank?(NYSE:FRC) and its subsidiaries provide private banking, private business banking and private wealth management. Founded in 1985,?First Republic?specializes in exceptional, relationship-based service offered through preferred banking or wealth management offices primarily in?San Francisco,?Palo Alto,?Los Angeles,?Santa Barbara,?Newport Beach,?San Diego,?Portland,?Boston,?Greenwich?and?New York City. First?Republic?offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans.

About First Republic Private Wealth Management

First Republic Private Wealth Management is the investment management, trust and brokerage group of?First Republic Bank. First Republic Private Wealth Management offers objective advice and fully customized solutions with the same level of exceptional client service that has been the hallmark of?First Republic Bank?for more than 25 years. First?Republic?has the flexibility to provide individuals, families, businesses, endowments, schools and non-profit organizations with appropriate choices that responsibly meet a client?s specific investment objectives.

Source:? First Republic Bank

Posted by?Steven Maimes, The Trust Advisor.

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