Harris Trust and Savings
Bank
111 W. Monroe St., Chicago, Ill. 60690; phone: (312) 461-2121; fax: (312)
461-2945
($ millions)
Domestic master trust assets120,600
Tax-exempt56,600
Taxable64,000
Domestic master custodial assets48,100
Domestic master trust clients:
Tax-exempt100
Taxable69
Domestic master custodial clients79
Account supervisors50
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Harris Trust and Savings Bank reported new, tax-exempt domestic master trust business of $175 million in the year ended June 30 and new, tax-exempt domestic master custodial business of $1.654 billion.
The primary accounting method is trade date; settlement date also is offered.
Services offered in the basic master trust/master custodial agreement are asset custody, trade settlement, income collection, accounting and reporting, short-term cash management, investment manager relations, customer service and fiduciary service.
On-line access, benefit payment processing, performance measurement, foreign exchange services, portfolio analytics, securities lending, custom cash management, record keeping, employee communications and investment management are available for additional fees.
Record-keeping services offered include form 5500 preparation, federal and state tax reporting for benefit payment distributions, custom reporting and prototype plan documentation.
New features include CD ROM reporting and on-line information for global custody.
Fees are based on asset value and transactions.
The master trust client contact is Richard L. Walker; the master custody client contact is Elizabeth M. Stubenrauch.
Marshall & Ilsley Trust Co.
1000 N. Water St., Milwaukee, Wis. 53202; phone: (414) 287-8700; fax: (414) 287-7125
($ millions)
Domestic master trust assets3,993
Tax-exempt3,890
Taxable103
Domestic master custodial assets380
Domestic master trust clients:
Tax-exempt54
Taxable3
Domestic master custodial clients15
Account supervisors17
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Pension recipient reports
Marshall & Ilsley Trust Co. reported new, tax-exempt domestic master custodial business of $1.265 billion in the year ended June 30.
The primary accounting method is accrual. Settlement and trade date are also offered. Services offered in the basic master trust/master custodial agreement are securities lending, performance measurement, benefit payment distributions, automatic cash management and customized reporting.
On-line services are available for additional fees.
Record-keeping services offered include daily valuation, voice response information system and compliance testing.
Fees are based on market value plus accrual.
The client contact is Judith Murphy.
Mellon Trust
1 Boston Place, Boston, Mass. 02108; phone: (617) 722-7314; fax: (617) 722-3549
($ millions)
Domestic master trust assets408,665
Tax-exempt326,987
Taxable81,678
Domestic master custodial assets296,629
Domestic master trust clients:
Tax-exempt302
Taxable51
Domestic master custodial clients182
Account supervisors162
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Over 450 reports, including securities lending, participant record keeping, benefit disbursement activity and portfolio analytics.
Mellon Trust reported new, tax-exempt domestic master trust business of $5.18 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $47.078 billion.
The primary accounting methods are trade date, accrual and average cost. FIFO, LIFO, highest/lowest cost, selected lot, original cost, amortization/accretion using straight line and constant yield also are offered.
Services offered in the basic master trust/master custodial agreement are cash management, trade settlement, safekeeping, income collection, accounting/reporting and basic on-line inquiry.
Performance measurement, analytics, securities lending, benefit payments and participant record keeping are available for additional fees.
Record-keeping services offered include securities lending, benefit payments, participant record keeping, global custody and on-line information delivery.
New features include the release of Window-based on-line services.
Fees are based on number and type of portfolios, total assets, transactions and ancillary services.
The client contact is Paul S. Maregni.
National City Bank
1900 E. Ninth St., Cleveland, Ohio 44114; phone: (216) 575-2694
($ millions)
Domestic master trust/custody assets2,211
Tax-exempt452
Taxable1,759
Domestic master trust/custody clients:
Tax-exempt8
Taxable55
Account supervisors5
Reports available on-line:
Monthly transaction
Daily balance
Account holdings
Pending interest & dividends
Maturities
National City Bank reported new, tax-exempt domestic master trust business of $261 million in the year ended June 30.
The primary accounting method is trade or settlement date. Accrual and cash also are offered.
Services offered in the basic master trust/master custodial agreement are unified reporting, cost efficiency, performance measurement, securities lending, investment advisory firm use, safekeeping, collection & remittance of investment income and cash sweep.
Customized reporting and donor reporting are available for additional fees.
The client contact is Susan Capps.
NBD Bank
611 Woodward Ave., Detroit, Mich. 48226; phone: (313) 225-1260; fax: (313) 225-3948
($ millions)
Domestic master trust assets20,591
Tax-exempt20,236
Taxable355
Domestic master custodial assets33,639
Domestic master trust clients:
Tax-exempt153
Taxable4
Domestic master custodial clients65
Account supervisors16
Reports available on-line:
Monthly transaction
Asset & liability
Cash projections
Pending trades
Liquidity
NBD Bank reported new, tax-exempt domestic master trust business of $291 million in the year ended June 30 and new, tax-exempt domestic master custodial business of $28 million.
The primary accounting methods are cash and settlement. Full accrual also is offered.
Services offered in the basic master trust/master custodial agreement are inventories, annual accountings and cash statements.
Modular services including benefit disbursement, cash management and performance measurement are available for additional fees.
Record-keeping services offered include 401(k) reporting.
New features include a global subcustodial network.
Fees are based on base plus market values and transactions.
The client contacts are Clarence Kufel and John Broman.
Northern Trust
50 S. LaSalle St., Chicago, Ill. 60675; phone: (312) 630-6000
($ millions)
Domestic master trust assets299,000
Tax-exempt209,500
Taxable89,500
Domestic master custodial assets 189,300
Domestic master trust clients:
Tax-exempt259
Taxable151
Domestic master custodial clients195
Account supervisors90
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Plan valuation
Securities lending
Proxy
Benefit payment
Northern Trust reported new, tax-exempt domestic master trust business of $5 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $5.6 billion.
The primary accounting method is average cost. LIFO, FIFO, high cost also are offered.
Services offered in the basic master trust/master custodial agreement are relationship management, safekeeping, trade settlement, investment manager servicing, accounting, reporting, auditing, income collections, corporate action processing, pricing and cash management.
Global custody, U.S. and international securities lending, performance measurement and analytics, investment management, benefit payments, foreign exchange and record keeping are available for additional fees.
Record-keeping services, offered through a subsidiary, include administration, custom participant statements, full participant loan services, audit controls and interactive voice response.
New features include an enhanced reporting database, on-line benefit payment update and inquiry capabilities, enhanced investment decision support and tools and on-line research products.
Fees are based on asset value, transactions and fees for ancillary services.
The client contact is Connie Magnuson.
