The Phoenix Companies, a financial services company based in Hartford, Conn., will offer trust, custody and other fiduciary services to customers nationwide. The services are available through the Phoenix National Trust Co., a national trust bank, which was formerly Phoenix Charter Oak Trust, a regional trust company.
The Phoenix Companies oversaw the conversion to reach the increasing numbers of high-net-worth individuals, which Phoenix National Trust President Charles Olson called the fastest growing segment of the U.S. population. "Phoenix is also seeing an increased demand from advisors to make trust services available to their clients," Olson said in a statement. Phoenix National Trust recently opened a trust office in Pasadena, Calif.