Key Private Bank, the investment, trust and wealth management arm of Cleveland-based KeyCorp, has established Key National Trust Company of Delaware to provide trust services for wealthy clients and prospects seeking asset protection, tax savings and flexibility, the company announced Thursday.
The bank appointed industry veterans Anne Marie Levin and Isabel Pryor to launch the new trust company. Levin, a Delaware trust specialist formerly with PNC Bank, “will be responsible for working with attorneys and accountants nationally to assist in managing sophisticated estate and tax-planning considerations for high-net-worth clients,” the bank said in a statement. Pryor, a senior trust and fiduciary specialist formerly with Wells Fargo Bank, “will focus on the administration of the Delaware Trusts,” it said.
“Building Key Private Bank’s capabilities to provide an array of trust services has been a strategic objective for the firm,” Catherine O’Malley Kearney, Key Private Bank’s director of trust administration, said in statement. With the addition of Levin and Pryor, the bank enhances its ability to offer trust services for business owners, professionals and other wealthy individuals, she said.
Prior to PNC Bank, Levin was a senior estate trust counselor and fiduciary counsel at The Vanguard National Trust Company where “she counseled clients who have high-net-worth and ultra high-net-worth clients on sophisticated estate and tax planning options,” according to the bank. She was also a trust and estate planning attorney at Blank Rome LLP, a national law firm.
Before joining Wells Fargo Bank, Pryor was an assistant vice president at Wilmington Trust Company where “she focused her work in the firm’s ultra high-net-worth segment of its family wealth division,” the bank said.
KeyCorp is one of the nation’s largest bank-based financial services companies with assets of approximately $89 billion.
Margarida Correia writes for Bank Investment Consultant.