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Chilton Trust Company Receives Approval To Exercise Trust Powers

PALM BEACH, Fla., May 2, 2012 /PRNewswire/ -- Chilton Trust Company ("Chilton Trust"), which was founded as Chilton Trust Management in June 2010, has become the first trust company to be approved by the Florida Office of Financial Regulation since 2004. Chilton Trust advises and provides bespoke private wealth management services to ultra-high net worth individuals, families and foundations. With this approval, it is now also empowered to act as the executor/personal representative and trustee of estates and trusts.

Based in Palm Beach, Florida, under the direction of President and Chief Executive Officer Garrison D. Lickle, Chilton Trust provides family office services, asset allocation advice, management of separate portfolio accounts, tax advice, trust and estate administration and planning (in conjunction with its clients' advisors), and full fiduciary services.  Some of these services are provided through Chilton Private Clients ("CPC"), Chilton Trust's affiliate in New York and Connecticut. 

In January, CPC announced the hiring of Timothy Horan from Morgan Stanley Smith Barney as Executive Vice President and Chief Investment Officer – Fixed Income.  Joining Mr. Horan at CPC were four experienced fixed income investment professionals. Chilton Trust, together with CPC, currently manages approximately $5 billion in assets.

Richard L. Chilton, Jr., Chairman and Chief Investment Officer of Chilton Trust, said, "We are delighted that after a rigorous process, the Florida regulatory authorities have approved our application to form a trust company, the first such approval in eight years.  This is a testament to the solid foundation we have in place and the strength of Chilton Trust's commitment to provide premier wealth management services to our clients, the full spectrum of which would be unavailable without trust powers. Chilton Trust clients can draw on our expertise in equity and fixed income investments, tax advice, trusts and estates and family office services, all within the security of a bona fide trust company that is committed to managing, preserving and growing its clients' assets for generations to come, and doing so with the utmost integrity."

Chilton Trust Company's Board of Directors

In addition to Mr. Chilton and Mr. Lickle, the Chilton Trust Board of Directors includes:
  • William P. Boardman, former Director of Bank of America Corporation, former Vice Chairman of Bank One Corporation, former President & CEO of First USA Bank, N.A., a Division of Bank One Corporation, and former Chairman & Director of Visa International, Inc. and Visa, USA;
  • Porter J. Goss, former Director of the Central Intelligence Agency, and former U.S. Congressman for the 13th and 14th Congressional Districts of Florida; and
  • James Hawkes, former Chairman, President & CEO of Eaton Vance Corporation, and a former Director of Investors Bank and Trust.

Mr. Chilton concluded, "We are very pleased that such a distinguished roster of independent directors has joined our Board, and we look forward to working with them in the years ahead."

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