INATrust, fsb, a federally chartered thrift institution, officially opened for business at Two Liberty Place on February 9, 2000. INATrust is a wholly-owned subsidiary of INA Holdings Corporation, which is part of the ACE Group of Companies, headed by ACE Limited (NYSE: ACL). INATrust was formed to capitalize on business opportunities presented by the enactment of financial services reform legislation. The new bank is authorized to exercise self-directed trust powers for both corporate and consumer accounts, as granted to savings & loan associations federally chartered by the Office of Thrift Supervision. The bank will focus its marketing efforts in the greater Philadelphia, PA and Hartford, CT areas.
"INATrust is an exciting new venture," said Bob Jefferson, chairman of the board of directors of INATrust and chief financial officer of ACE INA. "We believe INATrust provides additional flexibility and synergies to the recently announced formation of ACE Financial Services."
Said Edward Keidat, president and CEO of INATrust, fsb, "We offer a lower minimum investable asset requirement and fall in line with the trend toward self-managed assets. INATrust is committed to providing the highest level of customer service and to serving those who have not been able to participate due to the higher fees traditionally charged for trust services."
Joanne Mintz, vice president and senior trust officer of INATrust, elaborated by explaining that, "We have geared INATrust to appeal to the next generation of trust clients - individuals who have gathered significant assets of their own, who want to maintain control over their investments while taking advantage of the benefits and services a trust can provide. We are looking forward to providing these clients with services that meet their changing needs." For more information, please contact either Ed Keidat at (215) 761-1378, or Joanne Mintz at (215) 761-3856.
The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients. The ACE Group conducts its business on a global basis with operating subsidiaries in nearly 50 countries. Additional information can be found at:
www.acelimited.com
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