AITC Expands Reach Through Strategic Acquisition of Huntington
Expanding Horizons: Argent Institutional Trust Company’s New Acquisition
Argent Institutional Trust Company (AITC), a prominent player in trust services, has made a significant move by entering into a definitive agreement to acquire the corporate trust and institutional custody business of The Huntington National Bank. This acquisition marks an important milestone in AITC's growth strategy, allowing it to broaden its footprint in the institutional trust sector.
A Strategic Move for Enhanced Services
This acquisition is poised to greatly enhance AITC's capabilities by integrating Huntington's extensive client relationships and operational expertise into AITC's existing framework. By doing so, AITC strengthens its offerings, positioning itself as a trusted leader in corporate trust and custody services nationwide.
Benefits for Clients
As part of this acquisition, AITC will continue to maintain an ongoing relationship with Huntington, ensuring that clients enjoy seamless access to corporate trust and custody solutions. AITC’s integration plan includes important personnel transfers, promoting continuity and exceptional service for existing clients.
Leadership Insights on the Acquisition
Anthony (Tony) Guthrie, Chairman of AITC, expressed his enthusiasm, stating, “This acquisition aligns with our long-term growth strategy and our commitment to delivering high-quality, customized trust and agency solutions.” He added that welcoming Huntington's talented team would not only enhance their internal expertise but also allow them to provide more robust services to their institutional partners across the nation.
Legacy of Trust and Commitment
Given AITC's longstanding history of over 70 years, this acquisition is a natural progression in their mission. The firm is dedicated to keeping clients at the forefront of all business endeavors, ensuring high-quality expertise and exceptional service delivery remain intact.
A Broadened Scope of Services
Huntington's corporate trust and institutional custody services have long served various sectors, including corporations, municipalities, and not-for-profit clients. By integrating these services into AITC's existing operations, clients will benefit from enhanced service flexibility and innovative solutions tailored to their financial success.
About Argent Institutional Trust Company
Founded in 1954 as Trust Management Incorporated, AITC has transformed over the decades into a full-service provider of trust and agency services. The recent merger with Argent Financial Group has positioned the company for heightened growth, now managing over $175 billion in client assets.
Commitment to Client Success
In operation across major cities, AITC prides itself on offering a comprehensive range of services that cater to diverse client needs, including trustee services, escrow, and custody solutions.
Keeping Community at Heart
With a commitment to exceptional client care, AITC's acquisition from Huntington not only reinforces its market position but solidifies its pledge to the communities they serve. With the transition expected to be seamless, AITC looks forward to integrating successfully with Huntington's existing clients.
Frequently Asked Questions
What is the significance of AITC's acquisition of Huntington?
The acquisition allows AITC to expand its institutional trust footprint, enhancing its service offerings and operational capabilities.
Who are the main beneficiaries of this transaction?
Current clients of both AITC and Huntington will benefit from an enhanced range of trust and custody services.
How long has AITC been in operation?
Argent Institutional Trust Company has been operational since 1954, fostering decades of experience in trust services.
What types of services does AITC provide?
AITC offers trustee services, custody services, escrow agency, and more, catering to a diverse client base.
What will happen to Huntington's team after the acquisition?
Key personnel from Huntington will transition to AITC, ensuring continuity of service and expertise for clients.
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