GTCR has completed the acquisition of Fiduciary Company and its operating subsidiaries, which together operate as Fiduciary Trust Company.
The Boston-based firm provides private wealth management and trust services to ultra-high-net-worth individuals, families and institutions.
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GTCR had signed an agreement for the deal in November last year.
GTCR is set to work with Fiduciary chief executive Austin Shapard and the management team on the company’s next phase, including wider services for ultra-high-net-worth clients.
Under GTCR’s Leaders Strategy approach, Doris Meister, previously chair and chief executive of Wilmington Trust, will take the role of executive chair at Fiduciary.
Shapard said: “Our partnership with Doris and GTCR strengthens our ability to do even more for clients over time whether through broader services, deeper planning capabilities or an enhanced client experience.
“Doris is an accomplished executive in wealth management with a proven track record of leading and scaling platforms. We are excited to welcome Doris to the board as Executive Chair as we enter this next phase of Fiduciary’s growth.”
The company’s plans include widening its services, adding to its investment platform, increasing the use of technology across the platform and hiring more staff.
Established in 1885 as a family office, Fiduciary oversaw roughly $34bn in total assets as of 31 December 2025.
Its wealth management operations are centred on high-net-worth and ultra-high-net-worth individuals and families in New England, with in-house wealth planning, investment management and trust functions.
The business also offers custody and trustee services across the US to third-party financial advisers and family offices, including access to New Hampshire trust laws.
GTCR managing director Michael Hollander commented: “Fiduciary has spent 140 years building deep client trust and institutional credibility, and we see a compelling opportunity to build on that strong foundation.
“The wealth management market continues to grow and there is a meaningful opportunity to expand the platform’s capabilities and further enhance its technology infrastructure to capitalise on strong industry tailwinds. With Doris, Austin and the broader Fiduciary team, we believe that Fiduciary is uniquely positioned with a best in class offering and executive team.”
