As a result of growth and the 2009 acquisition of Sterling Trust, Equity Trust Company has more than doubled in size in the last few years. They now service more than 10,000 financial professionals, 130,000 clients and hold more than $12 billion in assets under custody.
As of May 1, 2013, acquisition and conversion activities are complete with the name change to Equity Institutional, the company said in a statement.
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The statement added that this name change requires no action from clients. Assets do not need to be re-registered, and there is no account number or ADR number changes.
Jeff Kelley, Equity Institutional chief operating officer, said: "Our new website design and functionality better represents our mission of continual innovation, providing customized information and education based on the professional needs of advisors, broker dealers, investment sponsors, and precious metals dealers. "
"The new website, in combination with our proprietary Institutional eVANTAGE online access technology have exponentially simplified and improved the process of investing in alternatives for our institutional clients," he added.
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