New York

Market Street Trust Company to open NYC office

Wealth management firm Market Street Trust Company is to open an office in New York City.

Robert Elliott has been named vice chairman to head the new office.
 
The office will be initially located at 590 Madison Avenue in Midtown Manhattan. The firm will continue to be based in Corning, NY and is committed to maintaining its primary operations there.
 
Elliott will launch the office and build a team over time that will be supported and fully integrated with the staff in Corning.
 
Elliott was most recently a senior advisor, and previously senior managing director, with Bessemer Trust. Elliott, a current member of the Market Street board of directors, will continue to serve on the board and will report to Marianne Young, Market Street’s president and chief executive officer.
 
Young says: “Opening the office and adding an executive of Rob’s calibre is an exciting opportunity that we believe will benefit our clients, as well as enable us to continue the thoughtful expansion of our business. Rob’s deep understanding of our culture and mission makes him perfectly suited to be a key member of our leadership team.”
 
"Market Street is an exceptional organisation and I am privileged to join it on a full-time basis,” Elliott says. “Market Street is a shared family office, owned by its client families. Not only is it free of conflicts so prevalent among wealth management firms, but client interests are directly aligned with the mission of the organisation. Market Street is very appealing to families seeking to create, in effect, their own family office within Market Street. I am particularly impressed with their comprehensive approach and their use of tax efficient investment strategies.”

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