“Everyone who was at the company at the time experienced an incredible — not in a good way — event in their lives. It changed how we all carry ourselves, how we communicate with colleagues. The sense of closeness we feel continues, even among people who have since left the company,” Mr. Yun said.
Mr. Yun still serves on the board of directors of Fiduciary Trust, but now is executive vice president of alternatives of the firm's parent, Franklin Resources Inc.
Fiduciary Trust's disaster recovery plan, a pivotal component of which was a New Jersey backup site, allowed the firm to quickly resume the business of managing money. Not only did all of its clients stay with the firm in the aftermath of the disaster, but also “so many asked us what they could do to help,” Mr. Yun said.
Fiduciary Trust has undergone a significant transformation in the past decade.
At the time of the terrorist attacks in 2001, FTCI managed a total of $47 billion, 76% of which was from institutional investors. In 2006, management of the firm's institutional strategies was assumed by other Franklin Templeton investment teams and FTCI's focus moved exclusively to managing high-net-worth assets. As of June 30, Fiduciary Trust's assets managed for high-net worth individuals totaled $12 billion, while assets under administration were $23 billion.
Current and former employees will join family and friends in a ceremony of remembrance on Sept. 9. A list of the FTCI employees who perished in the attack, information about the memorial ceremony and information about the firm's support for the National Sept. 11 Memorial is available on FTCI's website.