Trust Company announces $2B AUM at shareholders meeting
The SanCap Group, holding company of The Sanibel Captiva Trust Company and its divisions, held its 18th Annual Shareholders Meeting for approximately 70 guests on March 27 at the Marriott Sanibel Harbour Resort in Fort Myers.
Founder and Chairman S. Albert D. Hanser covered the firm’s activity, highlighted its mission and values, and addressed the growth of the company’s Employee Stock Ownership Plan.
Chief Executive Officer Terence M. Igo presented on the company’s strategy and growth, announcing the firm’s record $2 billion assets under management.
“Our assets under management is a major accomplishment for us at The Trust Company,” he said. “We owe it to our outstanding employees, an engaged board of directors, shareholders and most of all, our valued clients who have put their confidence in us.”
The firm increased consolidated net income by 33.5 percent, with 15 percent annualized consolidated net profit from 2013-18. Igo attributed the growth to the business strategy of “bigger is not better.”
“We keep our primary focus on satisfied clients, strategic hires and managing expenses; only adding new markets when it benefits our clients and key stakeholders,” he said.
Hanser provided an update on the board of directors, and acknowledged retiring board members Dr. Stephen Brown – 18 years – and Charles H. Ketteman – 12 years – for their dedication through the years in helping to grow the business. Hanser also noted the firm’s group of advisory board members.
Following the meeting, a luncheon presentation ensued featuring speakers Joel A. Johnson, Louis N. Pappas and Ian N. Breusch. Johnson, vice president in investments, is located in the Sanibel office and spoke on “Next Gen Observations” addressing his experience at the company over the last four years.
“I was fortunate enough to join the firm in 2015,” he said. “One of the things that most appealed to me was the desire by the team to have meaningful and productive relationships with their clients, rather than see them as a number. Working directly with clients is my favorite part of the role, and I plan to be part of the Trust Company for many years to come.”
Pappas, vice president in family office services, is in the Tampa office. Breusch, chief investment officer who leads a team of portfolio managers and investment analysts, provided highlights from the year’s Economic Outlook presentation.