Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Retirement Income Conference
    • 2022 Managing Pension Risk & Liabilities
    • 2022 WorldPensionSummit
Breadcrumb
  1. Home
  2. Print
October 27, 1997 12:00 AM

MASTER TRUST / GLOBAL CUSTODY: TRUST

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    The Chase Manhattan Bank

    Global Investor Services, 4 Chase MetroTech Center, 18th Floor, Brooklyn, N.Y. 11245; phone: (718) 242- 9151; fax: (718) 242-8896

    ($ millions)

    Domestic master trust assets 2,586,000

    Tax-exempt 207,000

    Taxable 2,379,000

    Domestic master custodial assets 157,000

    Domestic master trust clients:

    Tax-exempt 500

    Taxable 200

    Domestic master custodial clients 135

    Account supervisors 50

    Reports available online:

    Monthly transaction

    Asset & liability

    Performance measurement

    Tax reclaim

    Cash

    Reconciliation

    Corporate action

    Securities lending

    Tax lot

    Valuation

    Investment manager

    The Chase Manhattan Bank reported new, tax-exempt domestic master trust business of $8.5 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $57 billion.

    The primary accounting method is fully accrued, trade date. Average cost and tax inventory also are offered; for tax lot accounts, a variety of methods are supported, including LIFO, FIFO, high cost, low cost and specific lot.

    Services offered in the basic master trust/master custodial agreement are accounting and reporting; short-term cash management; income collection; proxy voting; asset safekeeping; trade settlement; transaction and holdings reports; and corporate action processing. Securities lending; foreign exchange; benefit payments; investment management; performance measurement and portfolio attribution; compliance services; trade execution services; and trade efficiency analyses are available for additional fees.

    Record-keeping services offered include bundled and unbundled for defined contribution plans, and electronic links to accommodate relationships with other providers.

    Fees are based on a combination of asset market value and transaction volume.

    The master trust and master custody client contact is Charles T. Connell.

    Citibank N.A.

    111 Wall St., New York, N.Y. 10043; phone: (212) 657-9370; fax: (212) 657-3310

    ($ millions)

    Domestic master trust assets 370,297

    Tax-exempt 128,297

    Taxable 242,000

    Domestic master custodial assets 119,205

    Domestic master trust clients:

    Tax-exempt 221

    Taxable 250

    Domestic master custodial clients 74

    Account supervisors 139

    Reports available online:

    Monthly transaction

    Asset & liability

    Performance measurement

    Securities lending

    Citibank N.A.'s primary accounting method is fully accrued, trade date. Settlement date and cash also are offered.

    Services offered in the basic master trust/master custodial agreement are safekeeping, custody, cash management, income collection, corporate action monitoring, proxy voting, trade date reporting, plan accounting, online information management and compliance.

    Global custody, securities lending, dividend reinvestment, benefit disbursing, portfolio management systems, performance measurement and analytics are available for additional fees.

    Fees are based on services provided, assets held and transaction volume.

    The master trust and master custody client contact is Samuel J. Borowski.

    Comerica Bank

    411 W. Lafayette, P.O. Box 75000, Detroit, Mich. 48275-3467; phone: (800) 872-1242; fax: (313) 222- 6641; Web site: www.comerica.com

    ($ millions)

    Domestic master trust assets 60,271

    Tax-exempt 36,850

    Taxable 23,421

    Domestic master custodial assets 28,951

    Domestic master trust clients:

    Tax-exempt 66

    Taxable 10

    Domestic master custodial clients 123

    Account supervisors 15

    Reports available online:

    Monthly transaction

    Asset & liability

    Comerica Bank reported new, tax-exempt domestic master trust business of $7.479 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $3.475 billion.

    The primary accounting method is trade date. Settlement date also is offered.

    Services offered in the basic master trust/master custodial agreement are trade settlement, income collection, corporate action processing, proxy voting, monthly reporting and online access.

    Plan accounting, cash management, performance measurement, securities lending, benefit payment processing, global custody and investment management are available for additional fees.

    Record-keeping services offered include those for participants of defined contribution plans and political action committees.

    Fees are based on asset value.

    The master trust and master custody client contact is Maurice Shane.

    CoreStates Bank N.A.

    P.O. Box 7618, Philadelphia, Pa. 19101-7618; phone: (215) 973- 6006; fax: (215) 786-6545; Web site: www.corestates.com

    ($ millions)

    Domestic master trust/custody assets 3,225

    Domestic master trust/custody clients 26

    Account supervisors 37

    Reports available online:

    Monthly transaction

    Performance measurement

    CoreStates Bank N.A. reported new, tax-exempt domestic master trust/custody business of $110 million in the year ended June 30.

    The primary accounting methods are cash and accrual.

    Services offered in the basic master trust/master custodial agreement are safekeeping of plan assets, collection and reinvestment of investment income, settling all security trades, depositing cash receipts, preparation of audited monthly transaction and asset accounting statements, quarterly and annual filing of taxes withheld, and monitoring of legal documentation compliance,

    Record-keeping services offered include client reports, online capabilities and customized reporting.

    Fees are based on market value and transactions.

    The master trust and master custody client contact is Frank Bradley.

    First Tennessee Bank N.A.

    P.O. Box 84, Memphis, Tenn. 38101; phone: (901) 681-2525; fax: (901) 681-2540

    ($ millions)

    Domestic master trust assets 605

    Tax-exempt 605

    Domestic master custodial assets 3,450

    Domestic master trust clients:

    Tax-exempt 4

    Domestic master custodial clients 12

    Account supervisors 2

    Reports available online:

    Monthly transaction

    Asset & liability

    First Tennessee Bank N.A.'s primary accounting method is settlement date with accruals. Trade date also is offered.

    Services offered in the basic master trust/master custodial agreement are asset custody and safekeeping; collection of interests and dividends; corporate reorganization activity; trade settlement; proxy voting pass-through; and brokerage commission reporting.

    TUCS reporting, loan and insurance administration and benefit payments and tax reporting are available for additional fees.

    Record-keeping services offered include participant recording.

    Fees are based on assets and services rendered.

    The master trust and master custody client contact is Deborah McDonald.

    First Trust N.A.

    First Bank Place, 601 Second Ave., Fifth Floor, Minneapolis, Minn. 55402; phone: (612) 973-4375; fax: (612) 973-4533

    ($ millions)

    Domestic master trust assets 4,136

    Tax-exempt 4,107

    Taxable 29

    Domestic master custodial assets 1,045

    Domestic master trust clients:

    Tax-exempt 132

    Taxable 2

    Domestic master custodial clients 23

    Account supervisors 5

    Reports available online:

    Monthly transaction

    Asset & liability

    Performance measurement

    First Trust N.A. reported new, tax-exempt domestic master trust business of $70.4 million in the year ended June 30.

    The primary accounting method is trade date, full accrual. Settlement date, cash basis also is offered.

    Services offered in the basic master trust/master custodial agreement are custody, unitized accounting, combined account reporting, performance measurement, online access and access to payment system.

    Securities lending, global custody, performance universe participation, online performance measurement report writing, investment management, daily valuation services and bundled 401(k) services are available for additional fees.

    Record-keeping services offered include daily and balance forward record-keeping.

    Fees are based on transactions and market value.

    The master trust and master custody client contact is Carter Dreblow.

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    Private Markets
    Sponsored Content: Private Markets

    Reader Poll

    July 29, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Gaining Momentum: Where Next for Trend-Following?
    The market opportunity in U.S. residential mortgage-backed securities
    Credit Indices Evolve with Enhanced Data Inputs
    Hedge Funds 2.0: Back to the future
    How Has 2022's Carnage Reshaped Global Stock and Bond Markets?
    Crossroads: Politics, Inflation, & Bonds
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    August 1, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Retirement Income Conference
      • 2022 Managing Pension Risk & Liabilities
      • 2022 WorldPensionSummit