The Special Fiduciary Services business was founded as part of U.S. Trust in 1987 to provide specialized fiduciary and related services to employee benefit plans. Acting as an independent fiduciary for employee benefit plans, we quickly gained a leading advantage in our field, particularly for plans holding major blocks of employer stock.
U.S. Trust was purchased by the Charles Schwab Corporation in 2000 and subsequently by Bank of America in 2007. Evercore established Evercore Trust in connection with its acquisition of U.S. Trust's Special Fiduciary Services business from Bank of America in 2009.
Our commitment to client service continues to remain unchanged. Evercore Trust continues to be a pioneer in shaping standards for independent fiduciary services.