$6bn F.L.Putnam Acquires Trust Company
F.L.Putnam CEO Tom Manning said he had been impressed with Darwin since it launched in 2019.
By Jake Indusrky
F.L.Putnam Investment Management Company is getting into the trust services business. The $6bn RIA announced on Wednesday that it has agreed to acquire Darwin Trust Company, a New Hampshire-chartered trust company.
John Gosselin and Melissa Sommer founded Darwin Trust in 2019. The company provides trust services to more than 110 high-net-worth individuals and families and has offices in Arlington, Mass. and Nashua, N.H.
Tom Manning, chief executive officer of Lynnfield, Mass.-based F.L.Putnam, told Citywire that the firm had long been looking for a chance to add a trust component to its service offering, but the cost and clunkiness of most options wasn’t appealing.
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