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The Wealth ManagementIndustry – The Americas
Sample entries of wealth managementcompanies from selected countries within theAmericas region
Published in the UK by
Highworth Research Ltd
Durham House, 1 Amity Grove
London, SW20 0LQ
Tel. +44 (0) 20 8946 5910
www.highworthresearch.com
© Highworth Research Ltd 2009
All rights reserved
Disclaimer
This publication is a creative work fully protected by all applicable copyright laws. No
part of this work covered by the copyright herein may be reproduced or used in any
form or by any means without the prior permission of the publisher.
Every effort has been made to ensure the accuracy of the information presented in
this publication; however should any errors exist which are brought to the attention
of the publisher, they will be fully corrected in the next printed version of the
publication, as well as in the online version. The publisher has not accepted any
payment for the listings in this publication, and publication of a descriptive profile
of any institution in this work does not in any way imply endorsement or
recommendation on the part of the publisher.
Sample Profiles for the Wealth ManagementIndustry – The Americas
Sample Profiles for the WealthManagement Industry – The Americas
Canada
BMO Financial Group Bank ofMontreal
MAIN ADDRESS
100 King Street W, 1 First Canadian Place,21st Floor, Toronto, ON, M5X 1A1, Canada
Tel: +1 416-867-6785; Fax: +1 416-867-6793Web: www.bmo.com
SUBSIDIARIES AND ASSOCIATED COMPANIESRELATED TO PRIVATE BANKING
� Harris NA� Harris myCFO, Inc.� Bank of Montreal Harris Private Banking� BMO Nesbitt Burns
PRINCIPAL ADDITIONAL OFFICES
Harris NA, Harris Bank, 111 W MonroeStreet, Chicago, IL, 60603, USA
Fax: +1 312-461-7869Web: www.harrisbank.com
Harris myCFO, Inc., 111 W Monroe Street,Chicago, IL, 60603, USA
Fax: +1 312-765-8375Web: www.harrismycfo.com
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Bank of Montreal Harris Private Banking, 1First Canadian Place, 10th Floor, P.O. Box150, Toronto, ON, M5X 1H3, Canada
Email: [email protected]: www.bmoharrisprivatebanking.com
BMO Nesbitt Burns, Private Client Division,1 First Canadian Place, Toronto, ON, M5X1H3, Canada
Web: www.bmonesbittburns.com
DIRECTORS’ NAMES AND JOB TITLES
Mr David A Galloway, Chairman of theBoard, BMO Financial Group
Mr William A Downe, President & ChiefExecutive Officer, BMO Financial Group
Mr Robert M Astley, DirectorMr Stephen E Bachand, DirectorMr David R Beatty, Chairman & Chief
Executive Officer, Beatinvest Ltd.;Managing Director, Canadian Coalitionfor Good Governance
Mr Robert Chevrier, President, Société degestion Roche, Inc.
Mr George A Cope, President & ChiefOperating Officer, Bell Canada
Mr Ronald H Farmer, Managing Director,Mosaic Capital Partners
Mr Harold N Kvisle, President & ChiefExecutive Officer, TransCanadaCorporation
Mrs Eva Lee Kwok, Chairman & ChiefExecutive Officer, Amara InternationalInvestment Corporation
Mr Bruce H Mitchell, Chairman & ChiefExecutive Officer, Permian Industries Ltd.
Mr Philip S Orsino, DirectorDr. Martha C Piper, DirectorMr J Robert S Prichard, President & Chief
Executive Officer, Torstar CorporationMr Jeremy H Reitman, President & Chief
Executive Officer, Reitmans (Canada) Ltd.Mrs Guylaine Saucier, DirectorMs Nancy C Southern, President & Chief
Executive Officer, ATCO Ltd. & CanadianUtilities Ltd.; Executive Vice President,Spruce Meadows
MANAGEMENT NAMES AND JOB TITLES
Mr David A Galloway, ChairmanMr William Downe, President & Chief
Executive OfficerMr Yvan J.P. Bordeau, Chief Executive
Officer, BMO Capital Markets; Head ofInvestment Banking Group
Ms Ellen M Costello, Chief Executive Officer,Harris Bankcorp, Inc.
Mr Barry K Gilmour, Group Head,Technology & Operations
Ms Karen E Maidment, Chief Financial &Administrative Officer
Mr L Jacques Ménard, Chairman, BMONesbitt Burns; President, Quebec Division
Mr Gilles G Ouellette, President & ChiefExecutive Officer, Private Client Group
Ms Rose M Patten, Senior Executive VicePresident, Head of Human Resources &Senior Leadership Advisor
Mr Frank Techar, President & Chief ExecutiveOfficer, Personal & Commercial Banking,Canada, BMO Financial Group
Dr. Sherry Cooper, Executive Vice President& Global Economic Strategist, BMOFinancial Group; Chief Economist, BMOCapital Markets
Ms Joan T Dea, Executive Vice President &Head of Strategic Management andCorporate Marketing, BMO FinancialGroup
Mr Thomas E Flynn, Treasurer & ExecutiveVice President, Finance, BMO FinancialGroup
Ms Sandra Hanington, Executive VicePresident, Customer Strategies & Marketing,P&C Banking Canada
Mr Maurice Hudon, Senior Executive VicePresident, Personal & CommercialBanking, Canada
Mr Neil R Macmillan, Executive VicePresident & Senior Risk Officer, InvestmentBanking Group
Mr Robert McGlashan, Executive VicePresident & Chief Risk Officer, EnterpriseRisk & Portfolio Management
Mr Thomas V Milroy, Co-President, BMOCapital Markets
Mr Graham Parsons, Executive VicePresident, Global Private Banking
Mr Michael R.P. Rayfield, Vice Chairman,Investment & Corporate Banking, BMOCapital Markets
Ms Penny Somerville, Executive VicePresident & Senior Market Risk Officer
Mr Eric C Tripp, Co-President, BMO CapitalMarkets
ANALYSIS OF BUSINESS
The Bank of Montreal Group (BMO) is oneof Canadas Big Five banks and a majorNorth American financial conglomerate.Headquartered in Toronto, BMO providesthrough its subsidiaries and affiliates a widerange of financial services for personal,corporate and private clients.
Affluent individuals and families areoffered family office services through BMOsprivate banking subsidiaries, Bank ofMontreal Harris Private Banking and HarrismyCFO, Inc., which include estate and taxplanning, advisory investment managementand charitable trust and foundation creation.Retirement planning and risk analysis arealso provided. Investment products andservices are provided by the Groupsbrokerage and securities division BMONesbitt Burns, and consist of bothconventional and alternative assets.
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Founded in 1817, BMO now has a globalpresence and is one of the largest financialgroups in the Americas. Its operations in theUS are primarily conducted through itswholly-owned subsidiary Harris Bank, whichit purchased in 1984. Harris Bank providesthe full range of BMO services, includingfamily office services through its myCFO,Inc. division.
Recent developments include the Groupspurchase of WI-based banks Ozaukee Bankand Merchants & ManufacturersBancorporation, Inc. in early March 2008,increasing Harris Banks presence in the USmidwest.
SUMMARY FINANCIAL STATEMENT
2008 2007(CAD$ m) (CAD$ m)
Pretax profit: 1,981.00 2,395.00Total assets: 416,050.00 366,524.00
YEAR FOUNDED
1817
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations;Pensions; Insurance Products
� Banking Services – Card Services; CreditProducts; Deposits; Mortgages
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Bonds; Hedge Funds; Real Estate; PrivateEquity; Mutual Funds; Equities; FixedIncome Funds
USA
Barclays Wealth Americas
MAIN ADDRESS
200 Park Avenue, 4th Floor, New York, NY,10166, USA
Tel: +1 212-526-2039Web:www.barclayswealth.com/files/americas.htm
PARENT COMPANY
Barclays PLC
SUBSIDIARIES AND ASSOCIATED COMPANIESRELATED TO PRIVATE BANKING
� Barclays Wealth International Private Bank� Gerrard Investment Management Limited
PRINCIPAL ADDITIONAL OFFICES
Barclays Wealth Americas, 3414 PeachtreeRoad NE, Suite 200, Atlanta, GA, 30326,USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 190 S LaSalleStreet, 25th Floor, Chicago, IL, 60603, USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 1301 McKinneyStreet, Fulbright Tower, Suite 400,Houston, TX, 77010, USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 1111 BrickellAvenue, 12th Floor, Miami, FL, 33131, USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 450 Royal PalmWay, 5th Floor, Palm Beach, FL, 33480,USA
Web:www.barclayswealth.com/files/americas.htm
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Barclays Wealth Americas, 555 CaliforniaStreet, 30th Floor, San Francisco, CA,94104, USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 125 High Street,16th Floor, Boston, MA, 02110, USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 200 CrescentCourt, Suite 400, Dallas, TX, 75201, USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 10250Constellation Boulevard, 25th Floor, LosAngeles, CA, 90067, USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 1735 MarketStreet, Suite 3900, Philadelphia, PA, 19103,USA
Web:www.barclayswealth.com/files/americas.htm
Barclays Wealth Americas, 2001 K Street NW,Suite 1125, Washington, DC, 20006, USA
Web:www.barclayswealth.com/files/americas.htm
MANAGEMENT NAMES AND JOB TITLES
Mr Robert Lynch, Managing Director & Headof Credit Structuring for the Americas
Mr Paul Feidelson, Head of Product OfficeMr Torben Nielsen, Head of Balance SheetMr John Longley, Head of National Accounts
NUMBER OF CLIENTS
700,000
ANALYSIS OF BUSINESS
Barclays PLC is a major global financialservices provider engaged in retail andcommercial banking, credit cards, investmentbanking, wealth management andinvestment management. Operating in over50 countries and employing 135,000 people,almost 62,000 of which work in the UK,
Barclays plc move, lend, invest and protectmoney for over 30 million customers andclients worldwide, and has over 300 years ofhistory and expertise in banking.
Barclays Wealth is the wealth managementdivision of Barclays and operates throughBarclays Bank Plc and its subsidiaries.Barclays Wealth works closely with otherbusiness units from across the BarclaysGroup, including retail and commercialbanking in the UK and overseas, to helpindividuals and companies build and managetheir wealth. Barclays Wealth was launchedin October 2006. However, the individualbusiness areas that make up its wealthmanagement division, including PrivateBanking and Barclays Stockbrokers, havebeen in operation for many years as part ofthe wider Barclays Group. Barclays Wealthemploys over 7,700 staff in 20 differentcountries working towards its mission ofbecoming the Premier European WealthManager.
Barclays Wealth has total client assets ofGBP 133 billion worldwide (as at 30December 2007). This is a 14 percentincrease on 2006. 2007 also saw a 25 percentincrease in profits before tax to GBP 307million. Barclays Wealth serves affluent,high-net-worth and intermediary clientsworldwide. Barclays Wealth provides privatebanking, asset management, stock broking,offshore banking, wealth structuring andfinancial planning services.
Barclays Wealth Private Banking offersprivate banking services to wealthy clients inover 140 countries. It has a stronginternational presence particularly in Europe,the Middle East, Asia and Africa. Its privatebanking services are tailored towardsindividuals with a minimum of GBP 500,000(or currency equivalent) in investible assets.Barclays Wealth Private Banking offersInvestment Management, Wealth Structuringand Credit Solutions. Its InvestmentManagement division offers bothdiscretionary and advisory services forcomprehensive portfolio monitoring and
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equity portfolios. Investment productsinclude traditional funds, Barclays Wealthmulti-manager, structured products,alternative investments (hedge funds, privateequity and real estate), SIPP (Self InvestedPersonal Pension) account, self select ISA/PEP and Alternative Investment Market (AIM)portfolio services. The Wealth Structuringdivision offers the most common wealthstructures which are trusts, including partialdiscretionary trusts, reserved powers trusts,STAR trusts and a managed company whichis incorporated to hold assets and provideforeign estate tax protection.
Barclays Wealth also provides CreditSolutions. It offers a range of UK andinternational mortgages, a specialist servicein aircraft and marine finance, financialguarantees and loans. Barclays Wealth alsooffers tailored foreign exchange services.With teams based in London, the ChannelIslands, Geneva, Hong Kong and Singapore,they offer these services to improve clients’investment strategy.
In May 2008, Barclays Wealth continued todeliver profit growth in the first quarter. InSeptember 2008 Barclays Wealth announcedthat it had acquired Lehman Brothers PrivateInvestment Management, with 12 offices inthe US and South America and assets of $50bn. This move provides Barclays with asignificant presence in the American wealthmanagement market.
Financials below are for the global wealthoperations of Barclays.
SUMMARY FINANCIAL STATEMENT
2008 2007(£ million) (£ million)
Pretax profit: 132,671 132,307Total assets: 13,300 18,200Assets undermanagement(Private bank): 145,100 132,500
YEAR FOUNDED
2006
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations;Pensions; Insurance Products
� Banking Services – Card Services; CreditProducts; Current Accounts; Deposits;Mortgages
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Discretionary Management; Bonds; CapitalProtection Products; Commodities;Derivatives; Hedge Funds; Real Estate;Structured Products; New Issues/IPOs;Private Equity; Mutual Funds; Equities;Foreign Exchange; Fixed Income Funds
� Other Services – Aircraft and MarineFinance
Bessemer Trust
MAIN ADDRESS
630 Fifth Avenue, New York, NY,10111-0333, USA
Tel: +1 212-708-9100; Fax: +1 212-265-5826Web: www.bessemer.com
PRINCIPAL ADDITIONAL OFFICES
Bessemer Trust, 3455 Peachtree Road NE,Suite 850, Atlanta, GA, 30326, USA
Fax: +1 404-264-1358Email: [email protected]: www.bessemer.com
Bessemer Trust, 2 International Place,Boston, MA, 02110, USA
Fax: +1 617-279-4090Email: [email protected]: www.bessemer.com
Bessemer Trust, 70 W Madison Street, Suite4900, Chicago, IL, 60602, USA
Fax: +1 312-220-0740Email: [email protected]: www.bessemer.com
Bessemer Trust, 300 Crescent Court, Suite800, Dallas, TX, 75201, USA
Fax: +1 214-981-9410
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Email: [email protected]: www.bessemer.com
Bessemer Trust, 601 S Figueroa Street, Suite4450, Los Angeles, CA, 90017, USA
Fax: +1 213-892-0510Email: [email protected]: www.bessemer.com
Bessemer Trust, 801 Brickell Avenue, Suite2250, Miami, FL, 33131, USA
Fax: +1 305-375-0694Email: [email protected]: www.bessemer.com
Bessemer Trust, 3777 Tamiami Trail N, Suite200, Naples, FL, 34103, USA
Fax: +1 239-435-0818Email: [email protected]: www.bessemer.com
Bessemer Trust, 222 Royal Palm Way, PalmBeach, FL, 33480, USA
Fax: +1 561-655-4699Email: [email protected]: www.bessemer.com
Bessemer Trust, 101 California Street, Suite2500, San Francisco, CA, 94111, USA
Fax: +1 415-291-1807Email: [email protected]: www.bessemer.com
Bessemer Trust, 900 17th Street NW, Suite1000, Washington, DC, 20006, USA
Fax: +1 202-659-4059Email: [email protected]: www.bessemer.com
Bessemer Trust, Nemours Building, 1007Orange Street, Suite 1450, Wilmington, DE,19801, USA
Fax: +1 302-984-9526Email: [email protected]: www.bessemer.com
Bessemer Trust, 100 Woodbridge CenterDrive, Woodbridge, NJ, 07095-1191, USA
Fax: +1 732-855-0196Email: [email protected]: www.bessemer.com
Bessemer Trust, 1 Stanhope Gate,Westminster, London, Greater London,W1K 1AF, UK
Fax: +44 207-290-9301Email: [email protected]: www.bessemer.com
Bessemer Trust, P.O. Box 694, EdwardStreet, George Town, Grand Cayman,KY1-1107, Cayman Islands
Fax: +1 345-945-2722Email: [email protected]: www.bessemer.com
DIRECTORS’ NAMES AND JOB TITLES
Mr Stuart S, III Janney, Chairman of theBoard, Bessemer Trust
MANAGEMENT NAMES AND JOB TITLES
Mr John A, Jr. Hilton, Chief Executive OfficerMr Robert C Elliott, Senior Managing
DirectorMr Thaddeus R Shelly, Senior Managing
DirectorMr Marc D Stern, Chief Investment OfficerMr Steven Brandfield, Principal, New YorkMr Paul L, III Maddock, Senior Vice
President, New YorkMr Donovan B, Jr. Moore, Managing
Director, New YorkMs Debralee Nelson, Managing Director &
Business Development Officer, New York &Woodbridge
Ms Alexa D Wilson, Principal & BusinessDevelopment Officer, New York
Ms Katherine F McMaster, Managing Director& Senior Resident Officer, Atlanta
Mr Christopher G Allen, Principal, AtlantaMr Stephen B Kistner, Managing Director &
Senior Resident Officer, BostonMs Pamela Murray, Principal, BostonMr David E McNeel, Managing Director &
Senior Resident Officer, ChicagoMr Jeffrey H Jacobs, Principal, ChicagoMr Scott W Hancock, Managing Director &
Senior Resident Officer, DallasMr George Wilcox, Managing Director and
Western Region Head
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Mr Mark L Lipson, Managing Director &Senior Resident Officer, Los Angeles
Mr Jeff J Glowacki, Principal, Los AngelesOffice
Ms Kerry Lynn Rapport, Managing Director& Senior Resident Officer, Miami
Mr J Cristián Segui-Clausen, Principal, MiamiOffice
Mr W David Bunce, Managing Director &Senior Resident Officer, Naples
Mr Brandon Reid, Managing Director &Senior Resident Officer, Palm Beach
Mr Scott A Sandstrom, Senior Vice President,Palm Beach
Mr Thomas J, Jr. Frank, Managing Director &Senior Resident Officer, San Francisco
Mr Eric S Holt, Principal, San FranciscoMr Richard O, Jr. Vandenberg, Principal, San
FranciscoMr T Paul Dalzell, Senior Vice President, San
FranciscoMr Lawrence P, II Fisher, Managing Director
& Senior Resident Officer, Washington, DCMr Michael H Orfini, Principal, Washington,
DCMs Deborah L Chiumento, Managing
Director & Senior Resident Officer,Wilmington
Mr William J, Jr. Tyne, Managing Director &Senior Resident Officer, London
Mr Edward A Smith, Principal, CaymanIslands
Ms Holly Isdale, Deputy Head of FamilyWealth
Mr Willliam Forsyth, Senior FiduciaryCounsel
NUMBER OF CLIENTS
Approx. 1900 families
ANALYSIS OF BUSINESS
Originally established in 1907 as the familyoffice and private equity investment firmresponsible for managing the finances of thePhipps family, Bessemer Trust now offers itswealth management and fiduciary planning
services to multiple Ultra-HNW familiesacross the US. These services includeinvestment management in bothconventional and alternative assets, tax,retirement and estate planning, trust andfoundation creation, philanthropic assistanceand insurance analysis. Clients must have aminimum of $10m in investable assets.
Bessemer Trust has looked after thePhipps family wealth for over a hundredyears, but it was only in 1974 that the familyoffice started seeking other wealthy familiesto provide its services to. The New York,NY-based company now has over US $50bnin AuM held for more than 1800 clientfamilies worldwide, and operates 12 regionaloffices across the US. There are alsoadditional branches located in George Townin the Cayman Islands and London.
Senior Managing Director Robert Elliotstated that Bessemer Trust had enjoyed arecord year in 2008 in terms of adding newclients and assets under management, whichnow amount to over $50 billion..
SUMMARY FINANCIAL STATEMENT
2008(USD$ m)
Assets undermanagement(Private bank): 50,000
YEAR FOUNDED
1907
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations;Pensions; Insurance Products
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Discretionary Management; Bonds;Commodities; Hedge Funds; Real Estate;Structured Products; Private Equity; MutualFunds; Equities; Fixed Income Funds
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Boston Private Financial Holdings,Inc.
MAIN ADDRESS
10 Post Office Square, Boston, MA, 02109,USA
Tel: +1 888-666-1363 / +1 617-912-1900;Fax: +1 617-912-3799 / +1 617-912-4511
Web: www.bostonprivate.com
SUBSIDIARIES AND ASSOCIATED COMPANIESRELATED TO PRIVATE BANKING
� Borel Private Bank� Boston Private Bank� Charter Bank� First Private Bank & Trust� Gibraltar Bank & Trust
DIRECTORS’ NAMES AND JOB TITLES
Mrs Lynn Thompson Hoffman, Lead DirectorMr Timothy L Vaill, ChairmanMr Herbert S Alexander, Founder, President
& Chief Executive Officer, Alexander,Aronson, Finning & Co., P.C.
Mr Peter C Bennett, DirectorMr Eugene S Colangelo, Chairman, Julio
EnterprisesMs Kathleen M Graveline, DirectorMr Adolfo Henriques, DirectorMs Deborah Foye Kuenstner, Chief
Investment Officer & Vice President,Investment Management, BrandeisUniversity
Mr Richard I, Jr. Morris, DirectorMr Walter M Pressey, President & Vice
Chairman, Boston Private FinancialHoldings, Inc.
Mr William J Shea, DirectorDr. Allen L Sinai, President, Chief Executive
Officer & Chief Global Economist/Strategist,Decision Economics, Inc.
Mr Stephen M Waters, Partner, CompassAdvisers; Chairman & Chief ExecutiveOfficer, Compass Partners International
Mr John Morton III, Director
MANAGEMENT NAMES AND JOB TITLES
Ms Margaret W Chambers, Executive VicePresident & General Counsel
Mr Joseph H Cromarty, Executive VicePresident & Chief Executive, WealthAdvisory & Investment Management
Mr David J Kaye, Executive Vice President &Chief Financial Officer
Mr James D Dawson, Executive VicePresident & Chief Executive Officer, PrivateBanking Group
Martha T Higgins, Executive Vice President,Human Capital Resources
Mr Walter M Pressey, President & ViceChairman
Mr Timothy L Vaill, Chairman of the Board,Chief Executive Officer
ANALYSIS OF BUSINESS
Boston Private Financial Holdings, Inc. is awealth management group that is comprisedof fourteen different firms, ranging fromprivate banks to wealth advisors. Founded in1988 following the formation of the BostonPrivate Bank & Trust Company two yearsearlier, BPFH went on to acquire and mergemultiple private banks and investment firmsall over the US. As of June 2007, it managedover USD$36bn in assets, but by the fourthquarter of 2008, this figure had shrunk toUSD$28.5bn.The bank recorded a loss ofUSD$24.9m in this quarter due to non-cashimpairment charges and higher loan lossprovisions. This increased the loss for the fullyear to $388 million. On the positive side,wealth advisory fees for the 4th quarterincreased 7% to $11.9 million while for thewhole year the bank had net inflows fromclients of USD$1bn.
SUMMARY FINANCIAL STATEMENT
2008 2007(US$ m) (US$ m)
Pretax profit: −457.82 28,518.42Total assets: 7,266.34 6,818.13Assets undermanagement(Private bank): 28,500.13
YEAR FOUNDED
1988
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SERVICES OFFERED
� Asset protection – Estate Planning;Philanthropy Services; Trusts; TaxPlanning; Foundations; Pensions;Insurance Products
� Banking Services – Card Services; CreditProducts; Deposits; Mortgages
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Discretionary Management; Bonds;Derivatives; Real Estate; StructuredProducts; Private Equity; Mutual Funds;Equities; Foreign Exchange; Fixed IncomeFunds
Brown Brothers Harriman & Co.
MAIN ADDRESS
Corporate Headquarters, 140 Broadway, NewYork, NY, 10005-1101, USA
Tel: +1 212-483-1818 / +1 212-493-8379(Wealth Management U.S.) / +1212-493-8894 (Wealth ManagementInternational); Fax: +1 212-493-8545
Email: [email protected] (WealthManagement U.S.) / [email protected](Wealth Management International)Web: www.bbh.com
PRINCIPAL ADDITIONAL OFFICES
Brown Brothers Harriman & Co., 40 WaterStreet, Boston, MA, 02109-3661, USA
Email: [email protected] (WealthManagement)Web: www.bbh.com
Brown Brothers Harriman & Co., 125 SWacker Drive, Suite 2150, Chicago, IL,60606-4402, USA
Email: [email protected] (WealthManagement)Web: www.bbh.com
Brown Brothers Harriman & Co., 2001 RossAvenue, Suite 2500, Dallas, TX,75201-2932, USA
Email: [email protected] (WealthManagement)Web: www.bbh.com
Brown Brothers Harriman & Co., ButterfieldHouse, P.O. Box 2330, Fort Street, GeorgeTown, Grand Cayman, Cayman Islands
Web: www.bbh.com
Brown Brothers Harriman & Co., 1531Walnut Street, Philadelphia, PA,19102-3098, USA
Email: [email protected] (WealthManagement)Web: www.bbh.com
Brown Brothers Harriman & Co., 227 WTrade Street, Suite 2100, Charlotte, NC,28202-1675, USA
Email: [email protected] (WealthManagement)Web: www.bbh.com
Brown Brothers Harriman & Co., NewportTower, 525 Washington Boulevard, JerseyCity, NJ, 07310, USA
Web: www.bbh.com
Brown Brothers Harriman & Co., 240 RoyalPalm Way, Palm Beach, FL, 33480, USA
Web: www.bbh.com
Brown Brothers Harriman Trustee Services(Ireland) Ltd., Styne House, Upper HatchStreet, Dublin 2, Ireland
Fax: +353 1-603-6300Web: www.bbh.com
Brown Brothers Harriman (Hong Kong) Ltd.,Unit 1507, Level 15, InternationalCommerce Centre, 1 Austin Road West,Kowloon, Hong Kong, Hong Kong S.A.R.
Fax: +852 3756-1799Web: www.bbh.com
Brown Brothers Harriman Ltd., VeritasHouse, 125 Finsbury Pavement, London,Greater London, EC2A 1PN, UK
Web: www.bbh.com
Brown Brothers Harriman (Luxembourg)S.C.A, 2-8 Avenue Charles De Gaulle, B.P.
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403, Luxembourg City, L-2014,Luxembourg
Fax: +352 47-05-80Web: www.bbh.com
Brown Brothers Harriman InvestmentServices (Japan), Inc., 1-2-8 Toranomon,Minato-ku, Tokyo, Tokyo Prefecture,105-0001, Japan
Web: www.bbh.com
Brown Brothers Harriman Services AG,Bärengasse 25, Zürich, Canton of Zürich,CH-8001, Switzerland
Web: www.bbh.com
MANAGEMENT NAMES AND JOB TITLES
Mr Douglas A, Jr. Donahue, ManagingPartner
Mr J William Anderson, Limited PartnerMr Glenn E Baker, PartnerMr Peter B Bartlett, Limited PartnerMr Thomas E Berk, PartnerMr Brian A Berris, PartnerMr Taylor S Bodman, PartnerMr John J Borland, PartnerMr Timothy J Connelly, PartnerMr Anthony T Enders, PartnerMr Alexander T Ercklentz, PartnerMr Dario Galindo, PartnerMr John A Gehret, PartnerKathryn C George, PartnerMr Elbridge T, Jr. Gerry, PartnerMr Robert R Gould, PartnerKyosuke Hashimoto, PartnerLandon Hilliard, PartnerMr Jeffrey R Holland, PartnerMr Charles O Izard, PartnerMr Radford W Klotz, PartnerSusan C Livingston, PartnerMr T Michael Long, PartnerMr Hampton S, Jr. Lynch, PartnerMr Michael W McConnell, PartnerMr John P Molner, PartnerMr William H, III Moore, PartnerMr Donald B Murphy, PartnerYukinori Nagahisa, PartnerMr John A Nielsen, PartnerA Heaton Robertson, Partner
Mr Jeffrey A Schoenfeld, Partner & ChiefInformation Officer
Mr W Carter, III Sullivan, PartnerStokley P Towles, PartnerMr Andrew J.F. Tucker, PartnerMr Lawrence C Tucker, PartnerMr William B Tyree, PartnerMr Douglas C Walker, PartnerMr William J, Jr. Whelan, PartnerMr Richard H, Jr. Witmer, PartnerMr Robert G Bergman, Managing DirectorMr James B Bertles, Managing DirectorMr Mark E Bevilacqua, Managing DirectorMr Charles H, Jr. Blood, Managing DirectorMr G Scott Clemons, Managing DirectorMr Barry M Connell, Managing DirectorMr Geoffrey M Cook, PartnerMr John D Chaparro, Managing DirectorMr Carl S Cutler, PartnerMr Edward Devine, Managing DirectorMr Joseph P Donlan, Managing DirectorChristine A Donovan, Managing DirectorPatricia R Fallon, Managing DirectorMr Walter W Grist, Managing DirectorMr J Edward Hall, Managing DirectorAnn M Hannaford, Managing DirectorMr Timothy E Hartch, Managing DirectorMr John R Hass, Managing DirectorMr Scott R Hill, Managing DirectorMr Andrew P Hofer, Managing DirectorMr Jeffrey J Idler, Managing DirectorMr Donald F Jannazzo, Managing DirectorMr Mark W Johnson, Managing DirectorMr James Kaplan, General Counsel &
Managing DirectorMr James R Kent, Managing DirectorMr Jared S Keyes, Managing DirectorMr John J Lee, Managing DirectorMr Joseph A Lifrieri, Managing DirectorMr Jeffrey C Lockwood, Managing DirectorMr Peter A Lorraine, Managing DirectorMr Edmund A Marcarelli, Managing DirectorMr Harry J Martin, Managing DirectorMr Gerard A McCauley, Managing DirectorMr Thomas J, III McDonald, Managing
DirectorMr Jeffrey B Meskin, Managing DirectorMr Geoffrey J Mills, Managing Director
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Mr James J, Jr. Minogue, Managing DirectorMr John P Nelson, Managing DirectorMr J Clark O’Donoghue, Managing DirectorMr Stephen B Owen, Managing DirectorSeán Páircéir, Managing DirectorMr Jean-Pierre Paquin, Managing DirectorMr Mark H, Jr. Payson, Managing DirectorMr Peter Poulin, Managing DirectorF Meade Reynolds, Managing DirectorMr John C, Jr. Santos, Managing DirectorMr Jeffrey J Scott, Managing DirectorMr Gregory S Steier, Managing DirectorMr Kevin W Stone, PartnerMr Edward X Tune, Managing DirectorMaroa C Velez, Controller & Managing
DirectorMr Patrick J Walsh, Managing DirectorMr Seth C Ward, Managing Director
ANALYSIS OF BUSINESS
Brown Brothers Harriman & Co. (BBH) isone of the US’ oldest and largest privatebanks, with locations in eight countriesaround the world and over USD$44bn inclient AuM. The firm provides acomprehensive range of advisory services toboth corporate and individual clients,including investment management intraditional and alternative assets such asprivate equity, hedge funds and real estate.
The firm also offers tax planning, estateadministration, trust capabilities and otherfiduciary services through its regional TrustCompany subsidiaries. In addition toadvisory services the company providessecure international corporate banking tomedium-sized businesses.
BBH was formed in 1931 from a mergerbetween Philadelphia, PA-based merchantbanking firm Brown Brothers & Co., NewYork, NY-headquartered Harriman Brothers& Co. and A. Harriman & Co., and has eightoffices in the US, with international brancheslocated in London, Dublin, Tokyo, Zurich,Hong Kong, Luxembourg and George Townin the Cayman Islands.
SUMMARY FINANCIAL STATEMENT
2008 2007(US$ m) (US$ m)
Total assets: 6,181.27 5,413.67Assets undermanagement(Private bank): 44,00067
YEAR FOUNDED
1931
SERVICES OFFERED
� Asset protection – Estate Planning;Philanthropy Services; Trusts; TaxPlanning; Foundations; Pensions;Insurance Products
� Banking Services – Credit Products;Deposits; Mortgages
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Discretionary Management; Bonds; CapitalProtection Products; Commodities;Derivatives; Hedge Funds; Real Estate;Structured Products; Private Equity;Offshore Funds; Mutual Funds; Equities;Foreign Exchange; Fixed Income Funds
City National Corporation
MAIN ADDRESS
City National Center, 400 N Roxbury Drive,Beverly Hills, CA, 90210, USA
Tel: +1 310-888-6000; Fax: +1 310-858-3334Web: www.cnb.com
SUBSIDIARIES AND ASSOCIATED COMPANIESRELATED TO PRIVATE BANKING
� Convergent Wealth Advisors
PRINCIPAL ADDITIONAL OFFICES
City National Bank Private Client Services,400 Park Avenue, 20th & 21st Floors, NewYork, NY, 10022, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,City National Center, 400 North Roxbury
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Drive, 2nd Floor, Beverly Hills, CA, 90210,USA
Web: www.cnb.com/wms
City National Bank Private Client Services,2029 Century Park E, Los Angeles, CA,90067, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,501 W Broadway, San Diego, CA, 92101,USA
Web: www.cnb.com/wms
City National Bank Private Client Services,15260 Ventura Boulevard, 16th Floor,Sherman Oaks, CA, 91403, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,150 California Street, 12th Floor, SanFrancisco, CA, 94111, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,18111 Von Karman Avenue, Suite 110,Irvine, CA, 92612, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,3000 El Camino Real, Suite 100, Palo Alto,CA, 94306, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,4275 Executive Square, Suite 750, La Jolla,CA, 92037, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,3484 Central Avenue, Riverside, CA, 92506,USA
Web: www.cnb.com/wms
City National Bank Private Client Services,555 S Flower Street, 12th Floor, LosAngeles, CA, 90071, USA
Web: www.cnb.com/wms
City National Bank Private Client Services,2101 Webster Street, Oakland, CA, 94612,USA
Web: www.cnb.com/wms
City National Bank Private Client Services,2001 N Main Street, Suite 200, WalnutCreek, CA, 94596, USA
Web: www.cnb.com/wms
City National Bank Private Client Services –Trust & Investment Services, 225Broadway, San Diego, CA, 92101, USA
Web: www.cnb.com/wms
DIRECTORS’ NAMES AND JOB TITLES
Mr Russell Goldsmith, President & ChiefExecutive Officer, City NationalCorporation; Chairman of the Board &Chief Executive Officer, City National Bank
Mr Bram Goldsmith, Chairman of the Board,City National Corporation
Mr Christopher J Warmuth, President, CityNational Bank
Mr Richard L Bloch, Partner, CLB PartnersMr Kenneth L Coleman, Chairman, Accelrys,
Inc.Linda Griego, President & Chief Executive
Officer, Griego Enterprises, Inc.Ashok Israni, President & Chairman, Pacifica
CompaniesMr Michael L Meyer, Chief Executive Officer,
Michael L Meyer Co.Mr Ronald L Olson, Partner, Munger, Tolles
& Olson, LLPMr Bruce Rosenblum, President, Warner
Bros. Television GroupMr Peter M Thomas, Managing Partner,
Thomas & Mack Co.Mr Kenneth Ziffren, Partner, Ziffren,
Brittenham, Branca, Fischer, Gilbert-Lurie,Stiffleman, Cook, Johnson, Lande & Wolf,LLP
MANAGEMENT NAMES AND JOB TITLES
Mr Russell Goldsmith, Chairman, President &Chief Executive Officer, City NationalBank; President & Chief Executive Officer,City National Corporation
Mr Bram Goldsmith, Chairman of the Board,City National Corporation
Mr Christopher J Warmuth, President, CityNational Bank; Executive Vice President,City National Corporation
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Mr Christopher J Carey, Executive VicePresident & Chief Financial Officer, CityNational Corporation & City National Bank
Mr John J Beale, Executive Vice President &Chief Information Officer
Mr George H, Jr. Benter, Vice Chairman,City National Bank
Mr Robert H Brant, Executive Vice President,Northern California Division
Mr Richard Gershen, Executive VicePresident, Wealth Management
Mr Michael B Cahill, Executive VicePresident, General Counsel & Secretary,City National Corporation & City NationalBank
Mr Kevin P Dunigan, Executive VicePresident, Core Banking & RegionalExecutive, Orange County
Mr Brian Fitzmaurice, Executive VicePresident & Chief Credit Officer
Mr Mark J Forbes, Executive Vice President,Real Estate
Mr Rod Banks, Executive Vice President,Commercial Banking Services
Martha Henderson, Executive Vice President,Entertainment
Gwen T Miller, Executive Vice President,Private Banking, Los Angeles
Mr Thomas R Miller, Executive VicePresident, Marketing
Mr John Pedersen, Executive Vice President &Senior Risk Management Officer, CityNational Corporation & City National Bank
Mr T Richard Shier, Executive Vice President,Banking & Investment Services
Mr Robert Glaser, Manager of PrivateBanking and Wealth ManagementServices, Nevada
Mr Lee Pullan, Manager of Private Bankingand Wealth Management Services, Nevada
Ms Gina Gentleman, Vice President, LasVegas
Mr Ernesto Alvarez, Vice President andPrivate Client Advisor
Mr Kevin McCarthy, Senior Vice President,Manager for Private Client Services
Mr James R Daley, Executive Vice President,Treasury Services
Mr Robert M Iritani, Executive Vice President,Specialty Banking
Marianne Lamutt, Executive Vice President,Human Resources
Mr Michael Pagano, Executive Vice President,Private Banking Services
Mr Richard A Weiss, Executive Vice President& Chief Investment Officer, City NationalBank
ANALYSIS OF BUSINESS
City National Corporation is the holdingcompany for City National Bank (CNB), aBeverly Hills, CA-based commercial bankwhich operates a network of branch officesthroughout California, Nevada and NewYork, NY. In addition to general personaland corporate banking services CNB catersto more affluent clients through its PrivateClient Services (PCS) division.
Wealth management services provided byPCS include tax and estate planning, privatetrust and foundation administration,insurance analysis, retirement planning,private banking facilities, multi-generationalwealth transfer strategies and advisoryinvestment management. Clients can alsoobtain specialised portfolio counsel in moreunconventional assets such as private equity,venture capital and real estate.
HNW and Ultra-HNW clients can obtainhighly specialised private wealthmanagement services from CNB’swholly-owned subsidiary Convergent WealthAdvisors. Convergent, originally namedLydian Wealth Management, was acquiredand renamed in late 2007.
City National Bank was originally formedin 1954 to cater mainly to entertainment andproperty businesses and their executivesbased in southern California. Over thefollowing decades the bank expandedoutside the state, and as of Dec. 31, 2007 thecompany has more than 60 branch officesand nearly USD$16bn in total assets.
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SUMMARY FINANCIAL STATEMENT
2008 2007(US$ m) (US$ m)
Pretax profit: 16,152.36 16,353.37Total assets: 16,455.51 15,889.29
YEAR FOUNDED
1954
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations;Pensions; Insurance Products
� Banking Services – Card Services; CreditProducts; Deposits; Mortgages
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Bonds; Real Estate; Private Equity;Equities; Fixed Income Funds
GenSpring Family Offices
MAIN ADDRESS
3801 PGA Boulevard, Suite 555, Palm BeachGardens, FL, 33410, USA
Tel: +1 561-746-8444Web: www.genspring.com;www.amaglobal.com
PARENT COMPANY
SunTrust Bank
PRINCIPAL ADDITIONAL OFFICES
GenSpring Family Offices, 13-15 W 14thStreet, 3rd Floor, New York, NY, 10019,USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, The Chase Tower,4445 Willard Avenue, Suite 1010, ChevyChase, MD, 20815, USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, 601 Brickell KeyDrive, Suite 902, Miami, FL, 33131, USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, 1 RiversideBuilding, 4401 Northside Parkway, Suite120, Atlanta, GA, 30327, USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, 2 MorrocroftCentre, 4064 Colony Road, Suite 195,Charlotte, NC, 28211, USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, 4 GreenwichOffice Park, Greenwich, CT, 06831, USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, 300 S OrangeAvenue, Suite 775, Orlando, FL, 32801,USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, 50 CentralAvenue, Suite 950, Sarasota, FL, 34236,USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring Family Offices, 450 CarillonParkway, Suite 200, St. Petersburg, FL,33716, USA
Email: [email protected]: www.genspring.com;www.amaglobal.com
GenSpring International, 701 BrickellAvenue, Suite 2100, Miami, FL, 33131, USA
Fax: +1 305-825-7790
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Email: [email protected]: www.tbkinvestments.com
GenSpring Family Offices, 151 Kalmus Drive,Suite J-1, Costa Mesa, CA, 92626, USA
Email: [email protected]: www.genspring.com;www.cymricfamilyoffice.com
GenSpring Family Offices, 3475 PiedmontRoad NE, Suite 1600, Atlanta, GA, 30305,USA
Email: [email protected]: www.genspring.com
GenSpring Family Offices, 150 S US Highway1, Suite 400, Jupiter, FL, 33477, USA
Email: [email protected]: www.genspring.com
GenSpring Family Offices, 2355 E CamelbackRoad, Suite 750, Phoenix, AZ, 85016, USA
Email: [email protected]: www.genspring.com
MANAGEMENT NAMES AND JOB TITLES
Maria Elena Lagomasino, Chief ExecutiveOfficer
Mr Michael Holden, Chief Operating OfficerMr Michael Zeuner, Senior Executive PartnerMr Henry Perry, Founder & Chairman
EmeritusMr Andrew P Mehalko, Vice President &
Chief Investment OfficerMr David Bokman, Chief Wealth Advisory
OfficerMr Steve Barimo, Chief Marketing OfficerMr William P Barbeosch, Chief Fiduciary
OfficerMr John T Elmes, Senior PartnerMr Eamon Kelly, Director of Human
ResourcesSusan Parsons, President, AtlantaMr T Michael Henderson, Chairman, South
RegionMr Michael Woocher, President, Atlanta
(Buckhead Office)Mr Christopher H.A. Cecil, President,
Charlotte
Mr Eric Ridenour, Managing Director,Charlotte
Patricia M Soldano, President, SouthernCalifornia
Mr Kenneth R, Jr. Russell, President,Greenwich
Mr Ralph Wyman, Chairman, GreenwichJulie Neitzel, President, MiamiMr Bruce Arella, President, New YorkMr Stephen G Salley, Co-Chairman, FL
Central, SW & Tampa Bay RegionsJoEllen Ross, Co-Chairman, FL Central, SW &
Tampa Bay RegionsNicole Gokey, President, OrlandoMr Hunter Wilson, President, JupiterMr Mark D Feldman, Chairman, PhoenixMr Jim Brennan, President, St. Petersburg &
SarasotaMr John Devine, Chairman, Chevy ChaseMr Santiago Ulloa, Chief Executive Officer &
President, GenSpring InternationalMr J Scott Donald, Manager, GenSpring
InternationalMr Manuel Roberto Manotas, Manager,
GenSpring InternationalMr Alejandro Estrada, Associate Partner,
GenSpring InternationalMr Paul Hoffmann, Chief Operating Officer &
Chief Compliance Officer, GenSpringInternational
Mr Cesar Pachon, Co-Chief InvestmentOfficer, GenSpring International
Mr Gerardo Nout, Co-Chief InvestmentOfficer, GenSpring International
Mr Cesar Maldonado, Senior Vice President,Business Development & Client Services,GenSpring International
Ms Maria Pia Leon, Senior Vice President,GenSpring International
Mr Gabriel Freund, Senior Financial Analyst,GenSpring International
Ms Carolina Salazar, Systems Manager,GenSpring International
ANALYSIS OF BUSINESS
GenSpring Family Offices is a multi-familyoffice and wealth management firm
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headquartered in Palm Beach Gardens, FL.Originally established in 1989 as AssetManagement Advisors by Hap and EllenPerry and several other families, thecompany now manages assets for over 700families across the US, representing nearlyUSD$15bn in family assets underadvisement.
In 2001, GenSpring became an affiliate ofSunTrust Bank (NYSE:STI), which now ownsa majority interest in the company.
Acquisitions in the past few years includethe firm January 2008 purchase of InlignWealth Management, a Phoenix, AZ-basedcompany which now manages GenSpring’sfamily office operations in the southwesternUS. In addition, in January 2009 GenSpringcompleted its acquisition of Costa Mesa,CA-based MFO Cymric Family OfficeServices, expanding its presence in Californiaand signficantly increasing its assets.
In April 2009 GenSpring acquired Denver,CO-headquartered multi-family office firmEpic Advisors. The purchase should becompleted some time during 2009 or early2010. As of June 2009 GenSpring hasannounced plans to expand into themidwestern US.
The figures for assets under managementbelow are estimates.
SUMMARY FINANCIAL STATEMENT
2008 2007(US$ m) (US$ m)
Assets undermanagement(Private bank): 16,000 15,000
YEAR FOUNDED
1989 (Asset Management Advisors)
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations
� Investment management – AdvisoryManagement; Asset Allocation Strategies
Goldman Sachs Group, Inc.
MAIN ADDRESS
Corporate Headquarters, 85 Broad Street,New York, NY, 10004, USA
Tel: +1 212-902-1000; Fax: +1 212-902-3000Web: www2.goldmansachs.com
PRINCIPAL ADDITIONAL OFFICES
Goldman, Sachs & Co., 3414 Peachtree RoadNE, Suite 600, Atlanta, GA, 30326, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 125 High Street, 17thFloor, Boston, MA, 02110, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 71 S Wacker Drive,Suite 500, Chicago, IL, 60606, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 100 Crescent Court,Suite 1000, Dallas, TX, 75201, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 1000 Louisiana Street,Suite 550, Houston, TX, 77002, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 30 Hudson Street,Jersey City, NJ, 07302, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., Fox Plaza, Suite2600, 2121 Avenue of the Stars, LosAngeles, CA, 90067, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., First Union FinancialCenter, 200 S Biscayne Boulevard, Suite3700, Miami, FL, 33131, USA
Web: www2.goldmansachs.com
Goldman Sachs Asset Management, 32 OldSlip, 17th Floor, New York, NY, 10005,USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., Mellon Bank Center,1735 Market Street, 26th Floor,Philadelphia, PA, 19103, USA
Web: www2.goldmansachs.com
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Goldman, Sachs & Co., 701 Mt. Lucas Road,Princeton, NJ, 08540, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 295 Chipeta Way,Salt Lake City, UT, 84108, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 555 California Street,45th Floor, San Francisco, CA, 94104, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 719 2nd Avenue,Suite 1300, Seattle, WA, 98104, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 2502 Rocky PointDrive, Suite 500, Tampa, FL, 33607, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 101 ConstitutionAvenue NW, Suite 1000 E, Washington,DC, 20001, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co., 777 South Flagler,Suite 1200 – E Tower, West Palm Beach,FL, 33401, USA
Web: www2.goldmansachs.com
Goldman, Sachs & Co. Private WealthManagement, 1 New York Plaza, 41stFloor, New York, NY, 10004, USA
Web: www2.goldmansachs.com/services/investing/private-wealth-management
DIRECTORS’ NAMES AND JOB TITLES
Mr Lloyd C Blankfein, Chairman & ChiefExecutive Officer, The Goldman SachsGroup, Inc.
Mr Jon Winkelried, President & Co-ChiefOperating Officer, The Goldman SachsGroup, Inc.
Mr Gary D Cohn, President & Co-ChiefOperating Officer, The Goldman SachsGroup, Inc.
Mr John H BryanMr Claes Dahlbäck, Senior Advisor, Investor
AB & Senior Advisor, Foundation AssetManagement
Mr Stephen Friedman, Chairman, StonePoint Capital
Mr William W GeorgeMr Rajat K Gupta, Senior Partner Emeritus,
McKinsey & Co.Mr James A Johnson, Vice Chairman,
Perseus, LLCMs Lois D JuliberMr Lakshmi N Mittal, Chairman & Chief
Executive Officer, ArcelorMittal S.A.Dr. Ruth J Simmons, President, Brown
UniversityMr John F W Rogers, Secretary to the Board
MANAGEMENT NAMES AND JOB TITLES
Mr Lloyd C Blankfein, Chairman & ChiefExecutive Officer
Mr Jon Winkelried, President & Co-ChiefOperating Officer
Mr Gary D Cohn, President & Co-ChiefOperating Officer
Mr John S Weinberg, Vice ChairmanMr J Michael Evans, Vice ChairmanMr Michael S Sherwood, Vice ChairmanMr David A Viniar, Executive Vice President
& Chief Financial OfficerMr Gregory K Palm, Executive Vice President,
General Counsel & Secretary of theCorporation
Ms Esta E Stecher, Executive Vice President,General Counsel & Secretary of theCorporation
Mr Alan M Cohen, Executive Vice President &Global Head of Compliance
Mr Kevin Kennedy, Executive Vice President,Human Capital Management
ANALYSIS OF BUSINESS
The Goldman Sachs Group, Inc. is adiversified, multinational financial servicescorporation headquartered in New York, NY.The firm provides an extremely wide rangeof products and services to institutional andprivate clients, from individual investors toglobal conglomerates. HNW individuals andfamilies are served by the Groups PrivateWealth Management (PWM) division, whichoperates in all the US major regionalfinancial centers.
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Services provided by the PWM divisioninclude private banking and trustmanagement facilities, assistance inadministrating foundations, endowments andother charitable vehicles, tax and estateplanning, pensions and advisory investmentmanagement. Clients can also obtainspecialised analysis and monitoring in lesstraditional asset classes, such as hedge funds,derivatives, natural resources, currencyexchange, private equity and real estate.
The Group, formed in 1869, quicklybecame one of the largest financial traders ofthe early 20th Century but soon focused itsattention on investment banking instead. Thecompany continued to expand throughoutthe following decades, establishing its AssetManagement division in 1986 andunderwriting a number of noteworthy IPOs,such as Microsoft. In 1999 Goldman Sachswent public itself, although nearly half of thecompany is still held by the firms partners.
During the recent economic crisisGoldman Sachs appeared far more resilientthan many of the US other major investmentbanks, although its strong performanceduring 2007 has given way to a number oflosses in the latter half of 2008. As of Augustthe Group had USD$1.08trn in total assetsand a net income loss of approximatelyUSD$3.6bn. Assets under managementamounted to USD$863bn, up fromUSD$796bn in Q3 2007.
In mid-December 2008 the Groups CFO,David Viniar, announced plans to increasethe firms deposit base from USD$20bn tobetween USD$50-100bn throughout 2009.
SUMMARY FINANCIAL STATEMENT
2008 2007(US$ million) (US$ million)
Pretax profit: 2,336 1,117,604Total assets: 884,547 1,119,796Assets undermanagement(Private bank): 215,000 1,219,000
YEAR FOUNDED
1869
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations;Pensions; Insurance Products
� Banking Services – Credit Products;Deposits; Mortgages
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Bonds; Commodities; Derivatives; HedgeFunds; Real Estate; Structured Products;Private Equity; Mutual Funds; Equities;Foreign Exchange; Fixed Income Funds
Northern Trust Corporation
MAIN ADDRESS
50 S LaSalle Street, Chicago, IL, 60603, USATel: +1 312-630-6000; Fax: +1 312-444-7843Web: www.northerntrust.com
PRINCIPAL ADDITIONAL OFFICES
Northern Trust Bank, 65 E 55th Street, 24thFloor, New York, NY, 10022, USA
Fax: +1 212-339-7274Web: www.northerntrust.com
Northern Trust Bank, 1 International Place,Suite 1600, Boston, MA, 02110, USA
Web: www.northerntrust.com
Northern Trust Bank, 700 Brickell Avenue,Miami, FL, 33131, USA
Web: www.northerntrust.com
Northern Trust Bank, 5540 Preston Road,Dallas, TX, 75205, USA
Fax: +1 214-559-4123Web: www.northerntrust.com
Northern Trust Bank, 2020 Ross Avenue,Dallas, TX, 75201, USA
Fax: +1 214-740-5866Web: www.northerntrust.com
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Northern Trust Bank, 2701 Kirby Drive,Houston, TX, 77098, USA
Fax: +1 713-284-1791Web: www.northerntrust.com
Northern Trust Bank, 600 Bering Drive,Houston, TX, 77057, USA
Fax: +1 713-336-6116Web: www.northerntrust.com
Northern Trust Bank, 355 S Grand Avenue,Suite 2600, Los Angeles, CA, 90071, USA
Fax: +1 213-346-1498Web: www.northerntrust.com
Northern Trust Bank, 10877 WilshireBoulevard, Suite 100, Los Angeles, CA,90024, USA
Fax: +1 310-443-5123Web: www.northerntrust.com
Northern Trust Bank, 4370 La Jolla VillageDrive, Suite 1000, San Diego, CA, 92122,USA
Web: www.northerntrust.com
Northern Trust Bank, 580 California Street,Suite 1800, San Francisco, CA, 94104, USA
Fax: +1 415-765-4401Web: www.northerntrust.com
Northern Trust Corporation, 1573 MarketStreet, Denver, CO, 80202, USA
Fax: +1 303-335-1405Web: www.northerntrust.com
Northern Trust Bank FSB, 3282 NorthsideParkway NW, Suite 100, Atlanta, GA,30327, USA
Fax: +1 404-279-5210Web: www.northerntrust.com
Northern Trust Bank FSB, 1414 4th Avenue,Seattle, WA, 98101, USA
Fax: +1 206-264-8333Web: www.northerntrust.com
The Northern Trust Company of Connecticut,300 Atlantic Street, Suite 400, Stamford, CT,06901-3540, USA
Fax: +1 203-356-9341Web: www.northerntrust.com
Northern Trust Corporation, 1201 MarketStreet, Suite 1202, Wilmington, DE, 19801,USA
Web: www.northerntrust.com
Northern Trust Bank FSB, 200 Public Square,Suite 1950, Cleveland, OH, 44114, USA
Fax: +1 216-357-2409Web: www.northerntrust.com
Northern Trust Bank FSB, 161 OttawaAvenue, Grand Rapids, MI, 49503, USA
Fax: +1 616-233-0841Web: www.northerntrust.com
Northern Trust Bank FSB, 526 E WisconsinAvenue, Milwaukee, WI, 53202, USA
Fax: +1 414-905-7809Web: www.northerntrust.com
Northern Trust Corporation, 80 S 8th Street,Minneapolis, MN, 55402, USA
Web: www.northerntrust.com
Northern Trust Bank FSB, 190 CarondeletPlaza, St. Louis, MO, 63105, USA
Fax: +1 314-505-8310Web: www.northerntrust.com
Northern Trust Bank FSB, 1995 VillageCenter Circle, Las Vegas, NV, 89134, USA
Fax: +1 702-304-6875Web: www.northerntrust.com
Northern Trust Bank, 2398 E CamelbackRoad, Suite 400, Phoenix, AZ, 85016, USA
Web: www.northerntrust.com
Northern Trust, 50 Bank Street, CanaryWharf, London, Greater London, E14 5NT,UK
Fax: +44 207-982-2002Web: www.northerntrust.com
DIRECTORS’ NAMES AND JOB TITLES
Ms Linda Walker Bynoe, President & ChiefExecutive Officer, Telemat Ltd.
Mr Nicholas D Chabraja, Chairman & ChiefExecutive Officer, General DynamicsCorporation
Ms Susan Crown, Vice President, HenryCrown & Co.
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Mr Dipak C Jain, DirectorMr Arthur L Kelly, Managing Partner, KEL
Enterprises LPMr Robert C McCormack, DirectorMr Edward J Mooney, DirectorMr William A Osborn, Chairman of the
Board & Chief Executive Officer, NorthernTrust Corporation
Mr John W Rowe, Chairman, President &Chief Executive Officer, Exelon Corporation
Mr Harold B Smith, Chairman of theExecutive Committees, Illinois Tool Works,Inc.
Mr William D Smithburg, DirectorMr Enrique J Sosa, DirectorMr Charles A, III Tribbett, Managing
Director, Russell Reynolds AssociatesMr Frederick H Waddell, President & Chief
Operating Officer, Northern TrustCorporation
Ms Kathy Dugan, Senior Vice President
MANAGEMENT NAMES AND JOB TITLES
Mr Dan Houlihan, Global Head of Productand Strategy
Mr William A Osborn, Chairman of theBoard & Chief Executive Officer
Mr Frederick H Waddell, President & ChiefExecutive Officer
Sherry S Barrat, President, PersonalFinancial Services
Mr Steven L Fradkin, Executive Vice President& Chief Financial Officer
Mr Timothy P Moen, Executive Vice President& Head of Human Resources andAdminstration
Mr William L Morrison, President, PersonalFinancial Services
Mr Stephen N Potter, President NorthernTrust Global Investments
Jana R Schreuder, President, Operations &Technology
Joyce St. Clair, Executive Vice President &Head of Corporate Risk Management
Mr Timothy J Theriault, President, Corporate& Institutional Services
Kelly R Welsh, Executive Vice President &General Counsel
Mr Keith Gossler, Chief Banking OfficerMr Gregg Yaeger, Senior Vice President,
Financial Consulting GroupMr John Skjervem, Senior Vice President,
Investment ManagementMr R Hugh Magill, Chief Fiduciary OfficerMarguerite Griffin, National Director of
Philanthropic ServicesMr Douglas Regan, President, The Wealth
Management GroupMr Robert Browne, Chief Investment Officer
ANALYSIS OF BUSINESS
Northern Trust Corporation (NTC) is adiversified financial services company andone of the largest wealth managers in theUS. The firm provides a variety of productsand services, ranging from corporate andinstitutional finance to personal fiduciaryassistance and investment management forHNW individuals and families.
Clients in the US have access to a range ofservices, including secure private bankingfacilities, portfolio management, taxcompliance planning, estate and legacyco-ordination and family office services.Retirement planning and charitable giftingstrategies are also offered.
NTC’s Wealth Management Groupdivision, which caters to the corporation’smost affluent clients, offers comprehensivefinancial and fiduciary assistance to HNWfamilies, including specialised services suchas multi-generational wealth transferstrategies, cash and budget management, taxand accountancy co-ordination, private trustand foundation administration, private familybanking and document and family archivepreservation. Tax-advantaged offshore trusts,as well as Delaware trusts, are also available.
As well as traditional equity- and fixedincome-based assets, NTC also offersalternative asset management for clients withholdings in natural resources or real estate,and additionally provides assistance to thoselooking to invest in hedge funds or exploreprivate equity opportunities. Investmentservices are provided by the Corporation’s
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brokerage division, Northern Trust GlobalInvestments.
Northern Trust Corporation, established in1889 as the Northern Trust Company, wasset up to provide Chicago’s wealthiestresidents with complete management andassistance in their financial affairs, and hascontinued to do so for nearly 120 years.
The company now looks after the financesof more than a fifth of the US’ wealthiestfamilies, with USD$778.6bn in client assetsunder management as of Mar. 31, 2008, andoperates a network of offices in 18 statesacross the country. An additional office islocated in London, UK, which also overseesall wealth management operations in Africaand the Middle East. Recent developmentsinclude plans announced in April 2008 toopen a representative office in Abu Dhabi inthe UAE.
As of December 2008, Northern Trust hadassets under custody of $3.0 trillion, andassets under investment management of$558.8 billion.
It was announced on 22 April, 2009 thatnet income in the first quarter of the year fellto $161.8 million compared with reportednet income of $385.2 million in the firstquarter of 2008.
SUMMARY FINANCIAL STATEMENT
2008 2007(US$ m) (US$ m)
Pretax profit: 558,794.8 558,726.9Total assets: 82,053.9 67,611.9Assets undermanagement(Private bank): 558,800.9 757,200.9
YEAR FOUNDED
1889
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations;Pensions; Insurance Products
� Banking Services – Card Services; CreditProducts; Deposits; Mortgages
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Bonds; Commodities; Hedge Funds; RealEstate; Private Equity; Offshore Funds;Mutual Funds; Equities; Fixed IncomeFunds
Rockefeller & Co., Inc.
MAIN ADDRESS
Corporate Headquarters, 30 RockefellerPlaza, New York, NY, 10112, USA
Tel: +1 212-649-5600; Fax: +1 212-649-5977Email: [email protected]: www.rockco.com
PRINCIPAL ADDITIONAL OFFICES
Rockefeller & Co., Inc., 1717 Rhode IslandAvenue NW, Suite 620, Washington, DC,20036, USA
Email: [email protected]: www.rockco.com
Rockefeller & Co., Inc., 99 High Street, 17thFloor, Boston, MA, 02110, USA
Email: [email protected]: www.rockco.com
Rockefeller Trust Co., 30 Rockefeller Plaza,Suite 5600, New York, NY, 10112, USA
Email: [email protected]: www.rockco.com
Rockefeller Financial Services, Inc., 1201 NMarket Street, Suite 1604, Wilmington, DE,19801-1164, USA
Email: [email protected]: www.rockco.com
MANAGEMENT NAMES AND JOB TITLES
Mr James S McDonald, President & ChiefExecutive Officer
Mr Paul G Veith, Managing DirectorMr Mark J Panarese, Managing DirectorMr Roy C King, President, Chief Executive
Officer & Managing Director, IntegratedWealth Services
Mr Michael Collins, Chief Marketing Officer,Integrated Wealth Services
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Mag. Daniel Berg, Chief Technology Officer,Integrated Wealth Services
Mr G Patrick Fox, Senior Investment AdvisorMr John Bottomley, Senior Vice President
ANALYSIS OF BUSINESS
Originally formed as the single-family officeof the Rockefeller family, Rockefeller & Co.,Inc. is now a leading wealth managementfirm that provides multi-family office servicesto ultra-affluent clients around the world.
Its capabilities include comprehensiveinvestment portfolio management in bothconventional and alternative assets, taxcompliance co-ordination, family trust andfoundation administration, custodial servicesand estate and legacy planning. Insuranceanalysis for both individuals and client assetsis also provided.
Clients who wish to invest ethically cantake advantage of Rockefeller’s SociallyResponsible Investments facilities. Trustservices are provided by the firm’s affiliates,The Rockefeller Trust Companies, which arebased in New York, NY and Wilmington, DErespectively. Rockefeller also offersoutsourcing and other administrative servicesto investment management firms,single-family offices and multi-family officesthrough its Integrated Wealth Servicessubsidiary.
Rockefeller & Co. was first established in1882 as the John D Rockefeller Family
Office, set up to manage the vast wealthacquired by the Rockefellers following thesuccess of the Standard Oil Company. In thelatter half of the 20th Century the firm beganto offer its services to other wealthy families,individuals and institutional clients, includingcorporations and non-profit organisations.The company now has over US$ 23 bn intotal assets under administration as of Dec.31, 2008, a drop of $ 7 bn compared to theprior year. Assets under management fellfrom $ 8 bn in 2007 to $ 6 bn at close of2008.
SUMMARY FINANCIAL STATEMENT
2008 2007(US $ m) (US$ m)
Assets undermanagement(Private bank): 6,000 8,000
SERVICES OFFERED
� Asset protection – Family Office Services;Estate Planning; Philanthropy Services;Trusts; Tax Planning; Foundations;Insurance Products
� Investment management – AdvisoryManagement; Asset Allocation Strategies;Bonds; Hedge Funds; Private Equity;Mutual Funds; Equities; Fixed IncomeFunds
� Other Services – Socially ResponsibleInvestments
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