Fiduciary Trust, a private wealth management and custody services provider, announced today that Scott Sumner has joined as Vice President, Head of Custody. In this newly created position, Mr. Sumner is overseeing all custody sales and relationship management activities as the firm expands its custody business.

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Fiduciary Trust Expands Custody Capabilities (Photo: Business Wire).

Mr. Sumner joined from State Street Wealth Manager Services. In his previous roles at State Street and predecessor firm Investors Financial (which was acquired by State Street), he was responsible for the oversight of custody for a significant number of clients. Most recently, he served as head of relationship management for Wealth Manager Services’ investment management outsourcing platform. Over the course of his career, Mr. Sumner has spent nearly two decades providing custody and back-office services to single- and multi-family offices, registered investment advisors, trust companies, and private banks.

“I am excited to join a firm with such a highly regarded reputation for client service,” Mr. Sumner said. “The custody landscape has evolved over the past 10 years and we’ve seen a bifurcation occur between the brokerage platforms and the more traditional, fee-based custodial bank providers. Neither can deliver the level of service required for clients with $100 million to $700 million in assets that Fiduciary Trust can.”

“Scott’s addition to our team represents an important step in further establishing Fiduciary Trust as a boutique custodian of choice and builds upon our long tradition of safety, security and unparalleled client service,” said Austin V. Shapard, President and CEO of Fiduciary Trust. “The market is ripe for firms that are able and willing to provide quality service and deliver for clients in this space. We look forward to being that choice alternative.”

Mr. Sumner is a graduate of The University of Vermont, with a Bachelor of Arts degree in History.

About Fiduciary Trust Company

Fiduciary Trust specializes in investment management, estate and financial planning, trust, and custody services for high net worth families, charitable organizations, family offices and advisors. The firm supervises $11 billion of assets for clients located throughout the U.S. and abroad. As an independent company with a 130 year history, Fiduciary Trust provides clients with stability, sophisticated investment advice and personal service, uncompromised by the demands of Wall Street or a parent company. The company’s steadfast approach results in client relationships that last for decades and financial security that lasts for generations.

For additional information, please visit www.fiduciary-trust.com, or contact Randy Kinard, Head of Client Development, at 617-574-3432.

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