Trusting relationships

Article Abstract:

The influx of nonbank competitors into the trust business is posing a threat to the dominance of the banking industry. Insurance companies, brokerage firms and other nonbank institutions establishing their own trust operations are already seizing market share from banks, whose portion of the living trust market decreased by 15 percentage points to just 39% between 1993 and 1996. However, bank managers are not alarmed by the trend. They still dominate the business, in particular irrevocable trust services, and they boast of excellent service and expertise in trust. Moreover, bank trust departments are capable of dealing with nontraditional assets, including real estate, ranches and art works, which are generally ignored by nonbanks. To deal with the increased competition, banks are embracing new strategies. Some are reorganizing their service packages and employing the latest technology.

Nondeposit trust facilities, Trust Companies, Trust, Fiduciary, and Custody Activities, Market share, Savings and loan associations, Financial institution charters

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Independent streak

Article Abstract:

Scottish fund manager Baillie Gifford and Co has remained an independent partnership despite achieving huge international success in the fund management business. The fund manager started out with investment trusts as its core business but has since expanded its services to include acting as an investment consultant to British pension funds. Baillie Gifford provides the funds with its expertise in foreign equities, particularly Japanese and North American. Breaking into the European market has been difficult for the fund manager, but its joint senior partner Gavin Gemmell is convinced that persistence will eventually lead to success.

Investment advice, Management, Investment advisers, Baillie Gifford and Co.

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