Fred Alger Management created the Alger National Trust to provide trust services to institutional and high-net-worth clients. The unit initially will offer four collective trust funds for defined contribution plans, using Alger Managements all-cap, large-cap, midcap and small-cap growth strategies, said Jim Connelly, executive vice president and chief marketing officer. Trustee services for Alger IRA accounts also are available.
Greg Duch is president and chairman of Alger National Trust, and Dan Chung is executive vice president and chief investment officer. All are members of the Fred Alger Management team.
Frank Barone was hired a year ago as executive vice president and senior trust officer specifically to set up the trust company, said Mr. Connelly.