Beacon Trust Company Acquires Clear Asset Management
The Beacon Trust Company has acquired Clear Asset Management through a tax-free stock transaction.
Madison, NJ (PRWEB) December 3, 2008 -- The Beacon Trust Company has today acquired Clear Asset Management through a tax-free stock transaction. The combined firm, to be known as Beacon Trust Company, will have combined assets under management and advisement of approximately $1 billion.
Beacon Trust Company's CEO and President, Marc Paley, will lead the combined entity. Fred Fraenkel, Clear's former Chairman, has been appointed Vice Chairman and Chairman of the Investment Policy Committee for Beacon Trust Company.
"The addition of Clear Asset Management's team and products will greatly enhance our high-touch service franchise and position the firm for growth," said Marc Paley, Beacon's Chief Executive Officer.
Beacon has filed to open a branch in New York City to expand its client reach and to house part of the investment team.
"Clear's investment process has a proven four-year track record. Bringing this top-tier performance to Beacon Trust Company will augment its existing processes," said Fraenkel.
Clear adds five long-only portfolios and two investment partnerships with hedging strategies to Beacon Trust Company's offerings. Clear Indexes adds three popular indexes that are tracked by ETFs.
Additionally, Andrew Corn, founder and Chief Executive Officer of Clear Asset Management, joins Beacon as Executive Vice President and Chief Investment Officer, Equities.
About Beacon Trust Company:
Beacon Trust Company is a 20-year-old "limited purpose trust company" devoted to the roles of an investment manager, executor, trustee and custodian for a select group of families and institutions. Beacon Trust Company has approximately $900 million of AUM in actively managed equity and fixed income products, offered to individuals and institutions in separately managed accounts.
Beacon Trust Company offers services including: Asset Management, Fiduciary Services, Professional Planning and Administration Services for Estates and Trusts, Custodial Services, Custodial and Safekeeping Services for all U.S. dollar-denominated Securities, Tax Return Preparation, Personal Bill Payment and Investment Planning and as an Agent for Executor, Trustee or Guardian.
About Clear Asset Management:
Clear Asset Management is an equity asset management and research firm. At the core of the firm's investment process are proprietary multi-factor models based on academic research, industry best practices and analytics derived from the holdings of successful investors. The portfolios are fundamentally managed by a team of Portfolio Managers and Analysts, a disciplined trading strategy and risk management processes. The products designed from CAM's investment process include style portfolios offered to individuals and institutions as separately managed accounts and Investment Partnerships.
Through its wholly-owned subsidiary, Clear Indexes, the company creates and publishes custom indexes that are tracked by exchange-traded funds (ETFs) including (EXB), (CSD) and (CUT). Clear Indexes also licenses its intellectual property to Unit Investment Trusts (UITs).
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