Fiduciary Trust Company has appointed Doris Meister as its president and chief executive, replacing Austin Shapard.
Shapard, who has led the firm for 12 years, will move into an advisory position.
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He is due to remain in that role until the end of 2026, supporting the handover with Meister and the rest of the leadership team.
Shapard said: “It has been a privilege to lead Fiduciary over the past twelve years. I am incredibly proud of everything our team has accomplished together and confident the firm is well positioned for its next chapter as Doris and our leadership team continue building on the strong culture and client-first philosophy that have always defined Fiduciary.”
The company said the change follows a succession plan.
Meister has more than 35 years of experience in the sector.
Before joining Fiduciary Trust as executive chair, she was chair and chief executive of Wilmington Trust.
Meister commented: “For more than 140 years, Fiduciary has earned its clients’ trust through enduring relationships, thoughtful advice and an unwavering commitment to acting in their best interests.
“I am excited to build on that strong foundation while investing in our people, technology and investment capabilities to further enhance the experience we provide our clients.”
In April, GTCR completed its purchase of Fiduciary Company and its operating subsidiaries, which operate as Fiduciary Trust Company.
The Boston-based business provides private wealth management and trust services to ultra-high-net-worth individuals, families and institutions.
GTCR had signed an agreement for the deal in November last year.
