Fiduciary Trust Company International Completes Acquisition of Athena Capital Advisors
March 02 2020 - 1:32PM
Business Wire
Fiduciary Trust Company International, a global wealth manager
and wholly-owned subsidiary of Franklin Templeton, has finalized
its acquisition of Athena Capital Advisors, LLC in a merger
transaction today. The purchase of Athena Capital, a national
registered investment advisor (RIA) with approximately $6 billion
in assets under management, will further diversify Fiduciary Trust
Company International’s investment and wealth management solutions
for high-net-worth and ultra-high-net-worth clients.
Athena Capital was founded in 1993 and specializes in impact
investing, risk management, quantitative investment management,
outsourced chief investment officer (OCIO) services, family office
support, and building diversified portfolios using an endowment
investing style. The RIA, established by Lisette Cooper, PhD, is
based in Lincoln, MA, and has an additional office in New York, NY.
Athena Capital’s longstanding presence in suburban Boston expands
Fiduciary Trust Company International’s national footprint, giving
the firm a strong foothold in the New England region.
“Lisette and her team have been pioneers in the fields of impact
investing and quantitative investment management, and the due
diligence, investment research, and manager selection methodologies
they have developed in these areas will strengthen the advisory
services we provide across our organization,” said John M. Dowd,
chief executive officer of Fiduciary Trust Company International.
“The combination of our firms will enhance the experience we can
deliver to high-net-worth and ultra-high-net-worth clients across
the country.”
Fiduciary Trust Company International’s total assets under
management have increased to approximately $25 billion following
the acquisition of Athena Capital. Terms of the transaction were
not disclosed.
“We share Fiduciary Trust Company International’s belief that
the essence of wealth management is giving investors peace of
mind,” said Dr. Cooper, formerly founder, managing partner, and
chief investment officer of Athena Capital Advisors, who is now
vice chairman of Fiduciary Trust Company International. “Merging
our firms, expertise, and service offerings will unlock additional
value for our clients.”
About Fiduciary Trust Company International
Fiduciary Trust Company International, a global wealth
management firm, has served individuals, families, endowments and
foundations since 1931. With over $77 billion in assets under
management and administration as of December 31, 2019, the firm
specializes in strategic wealth planning, investment management and
trust and estate services, as well as tax and custody services. The
firm and its subsidiaries maintain offices in New York, NY, Coral
Gables, FL, Boca Raton, FL, St. Petersburg, FL, Los Angeles, CA,
San Mateo, CA, San Francisco, CA, Washington, DC, Wilmington, DE,
and Arlington, VA. For more information, please visit
fiduciarytrust.com, and for the latest updates, follow Fiduciary
Trust on LinkedIn and Twitter: @FiduciaryTrust.
About Franklin Resources
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization operating as Franklin Templeton. Franklin
Templeton’s goal is to deliver better outcomes by providing global
and domestic investment management to retail, institutional and
sovereign wealth clients in over 170 countries. Through specialized
teams, the Company has expertise across all asset classes,
including equity, fixed income, alternatives and custom multi-asset
solutions. The Company’s more than 600 investment professionals are
supported by its integrated, worldwide team of risk management
professionals and global trading desk network. With employees in
over 30 countries, the California-based company has more than 70
years of investment experience and over US$688 billion in assets
under management as of January 31, 2020. For more information,
please visit franklintempleton.com.
Forward-looking statements
The statements contained herein may include prospects,
statements of future expectations and other forward-looking
statements that are based on management's current views and
assumptions and involve known and unknown risks and uncertainties.
Actual results, performance or events may differ materially from
those expressed or implied in such forward-looking statements. Any
forward-looking statements herein are made only as of the date of
this press release, and the company assumes no obligation to update
any information or forward-looking statement contained herein,
except as required to be disclosed by law.
Copyright © 2020. Fiduciary Trust Company International. All
rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20200302005850/en/
Rebecca Radosevich: 212-632-3207
rebecca.radosevich@franklintempleton.com
Dana Taormina: 973-850-7305 dtaormina@jconnelly.com
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