Fiduciary Trust Company International Acquires The Pennsylvania Trust Company
January 22, 2020
Fiduciary Trust Company International, a global wealth manager and subsidiary of Franklin Resources (Franklin Templeton), agreed to acquire The Pennsylvania Trust Company, an independent, employee-owned wealth management firm based in Radnor, Pennsylvania. The deal expands Fiduciary Trust's presence in the Philadelphia market and enhances its suite of trust, estate, investment and tax planning capabilities for high-net-worth clients; terms were not disclosed and the transaction was expected to close in Franklin Resources' 2020 fiscal third quarter.
- Buyers
- Fiduciary Trust Company International
- Targets
- The Pennsylvania Trust Company
- Industry
- Wealth Management
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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