Mechanics Bank Establishes Delaware-based Trust Company

Mechanics Bank has opened Mechanics Bank Trust Company of Delaware, a wholly owned subsidiary that provides complex trust planning and administration in accordance with the State of Delaware’s unique and advantageous laws. The new, non-depository office expands on Mechanics Bank Wealth Management’s capabilities and enhances opportunities for trust clients seeking income and estate tax advantages, greater privacy and confidentiality, and asset preservation.

Read More on Fintech : Global Fintech Interview with Rob Young, Managing Director – UK at InDebted

Heading Mechanics Bank Trust Company of Delaware is Cindy Brown, J.D., T.E.P., Senior Vice President and Director of Special Situs Trusts, who has more than 25 years of experience in designing and administering complex trusts under Delaware law. Ms. Brown is an associate member of the Delaware State Bar Association, for which she serves on the Trust Act Committee credited for drafting the annual revisions to the Delaware Code. In addition, she serves on the Delaware Council on Banking, which advises the Office of the State Bank Commissioner on matters relating to the administration of banking laws and special projects. She holds a J.D. degree from Widener University-Delaware Law School.

“Delaware provides our high-net-worth clients access to a special situs jurisdiction known for its strong infrastructure for complex trust planning and administration and flexible solutions for our clients,” said Sommer McKinley, Senior Vice President and Director of Wealth Management for Mechanics Bank. “Backed by our talented team of trust professionals, Mechanics Bank Trust Company of Delaware enhances our Wealth Management offerings by combining Delaware’s trust advantages with Mechanics Bank’s strength and stability.”

Catch more Fintech Insights : The AI Shift in Fraud: Why Banks Need a New Playbook

[To share your insights with us, please write to [email protected] ]

The post Mechanics Bank Establishes Delaware-based Trust Company appeared first on GlobalFinTechSeries.