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Business Observer Friday, Jan. 11, 2019 3 years ago

New trust company granted charter

Sarasota Private Trust Co. is owned by several Sarasota families and New York Private Bank & Trust.

SARASOTA — Sarasota Private Trust Co. LLC announced the Florida Office of Financial Regulation approved its application to organize as a non-depository trust company.  

According to a press release, Sarasota Private Trust Co. is privately owned by several Sarasota families as well as New York Private Bank & Trust, led by financier and entrepreneur Howard Milstein.

The new charter was granted Dec. 31, 2018.

"We are a locally owned investment management firm with roots in a much larger national investment firm," says Sarasota Private Trust Co. CEO John Hart in the statement. "The values of Sarasota Private Trust Co. mirror that of our clients and prospective clients. We look forward to providing comprehensive services to Sarasota families as they look to preserve and grow their wealth across generations."

New York Private Bank & Trust was founded in 1850. The statement adds that New York Private Bank & Trust and its operating bank, Emigrant, is the largest privately-held, family-owned bank in America.

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