Whittier Trust Company

Whittier Trust Company is an American independent wealth management and investment firm. A multi-family office, it stems from the family office founded by the children of Max Whittier.[1] Whittier co-founded and developed Beverly Hills in the early 1900s, and co-founded Belridge Oil in 1911.[2][3]

Whittier Trust Company
TypePrivate
IndustryFinancial services
Founded1989 (1989)
(Whittier Trust Company)
1994 (1994)
(Whittier Trust Company of Nevada, Inc.)
Headquarters
South Pasadena, California and Reno, Nevada
,
U.S.
Key people
Michael J. Casey (Executive chairman)
David A. Dahl (CEO)
ServicesInvestments
Trust services
Philanthropy
Total assetsUS $11 billion
Websitewww.whittiertrust.com

History

The Whittier family office was one of the first family offices in the United States. It was established in 1935 by Leland, Don, Helen, and Paul Whittier to manage their assets and later their philanthropic efforts. A significant percentage of the Whittier family's fortune was on paper until 1979,[4][5] when Belridge Oil was sold to Shell Oil for $3.6 billion. It was the largest corporate acquisition in history at the time.[6]

In 1989, Whittier Trust Company was created as a California state-chartered trust company, and began to offer investment, wealth management, fiduciary, family office and philanthropic services to other families. In 1994, an affiliate company, The Whittier Trust Company of Nevada, Inc. was formed in Reno, Nevada to take advantage of the state's favorable tax and trust laws. As of 2017, Whittier Trust managed assets of more than $11 bn. for more than 30 foundations and 340 ultra high-net-worth families.[7][8][1]

Whittier Trust has offices in South Pasadena, Costa Mesa, and San Francisco, California; Reno, Nevada, Seattle, Washington and Portland Oregon.[9] To reflect the Whittier family history,[10] it maintains a focus on philanthropy, [11][12]and remains actively involved in oil, gas, and real estate investments.[9]

References
  1. Scholl, Jaye (December 18, 2000). "Pascal's Wager". Barron's. Retrieved February 2, 2018.
  2. "Whittier family". Forbes. Retrieved 2018-04-19.
  3. "Whittier Family Collection at the Online California Archive". www.oac.cdlib.org. Retrieved 2018-02-25.
  4. "HOW THEY MAKE THEIR RICHES GROW Preserving the fortune is no longer enough. Families are managing their money like a business to create still more wealth.- September 10, 1990". archive.fortune.com. Retrieved 2018-02-26.
  5. Lenzner, Robert. "Achieving immortality via the family office". Forbes. Retrieved 2018-02-26.
  6. Rich, Spencer (1979-09-30). "Shell to Purchase Calif. Oil Land For $3.65 Billion". Washington Post. ISSN 0190-8286. Retrieved 2018-02-26.
  7. "Whittier Trust Company: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2018-04-19.
  8. "Shared values, shrewd investments: The world's top 25 independent multi family offices | Campden FB". www.campdenfb.com. Retrieved 2018-04-19.
  9. "Whittier Trust". www.whittiertrust.com. Retrieved 2018-02-27.
  10. "Philanthropist Paul Whittier Dies". Los Angeles Times. 1991-08-23. Retrieved 2018-04-19.
  11. "Whittier - Advisors in Philanthropy". www.advisorsinphilanthropy.org. Retrieved 2018-04-19.
  12. Dagher, Veronica (2011-06-20). "How to Raise a Philanthropist". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-02-25.

Whittier Trust website

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.