Fiduciary Trust, a subsidiary of San Mateo, Calif.-based Franklin Resources that was headquartered in Two World Trade Center, said that 555 of its employees escaped the building including its CEO, CIO, CFO and most of its portfolio managers, but said 90 employees were still unaccounted for as of 2:30 PST yesterday.

Fiduciary’s staff located in other locations around U.S. and overseas has been 100% accounted for, the company said.

The firm has started to slowly resume operations, working out of a "disaster recovery center" in Short Hills, N.J. that is supported by Franklin Templeton Investments. The firm’s senior management began the process of restoring business functions out of the New Jersey site "within an hour of the tragedy," said Anne Tatlock, Fiduciary’s CEO.

The firm has recovered its portfolio accounting system and backed up all of its data through the close of trading on Monday. In addition, Fiduciary’s managers are in contact with their clients and are managing their accounts, Tatlock said. "We will be fully operational when U.S. equity markets re-open on Monday," she said.

While Fiduciary is preparing for Monday’s market opening, it is "completely focused" on the 90 missing employees and their families, Tatlock said.

 

 

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