Fiduciary Trust Company, a wealth management firm and wholly-owned subsidiary of Franklin Resources, has named Gail Cohen a new chair of its board of directors, replacing James Goodfellow.
Cohen will also manage trust and estate services, as well as client relationship functions as general trust counsel. She joined Fiduciary Trust in 1994 and has over 30 years of experience in trusts and estates.
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Goodfellow will remain on Fiduciary Trust’s board and transition his chairman responsibilities to Cohen.
Prior to joining Fiduciary Trust, Cohen worked as a trusts and estates associate at the law firm of Debevoise & Plimpton and also as an associate at the law offices of Edward S. Schlesinger.
Additionally, Lawrence Sternkopf has been appointed as new president and chief operating officer of Fiduciary Trust.
In his new role, Sternkopf will be responsible for managing operations and technology, as well as custody, tax services, treasury and finance functions, and will take over additional responsibilities for compliance and human resources.
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By GlobalDataSternkopf, who joined Fiduciary Trust in 1997 and has 25 years of experience in wealth management, has held several roles in finance and administration at Fiduciary Trust.
He joined Fiduciary Trust from Ernst & Young, specializing in the wealth management and private banking industries.
Furthermore, Fiduciary Trust has hired former president of Fiduciary Trust and current board member William Yun as interim CEO.
Yun will also continue to serve his current responsibilities leading Franklin Templeton’s specialized and alternative investment groups. The company is currently in search for a new CEO.
