GLENMEDE TRUST CO NA

The Glenmede Trust Company in an asset management company that acts as a business subsidiary of the Glenmede Corporation. The company can trace its history back to 1956, when the four children of Joseph N. Pew created Glenmede as the corporate trustee for the trust endowed to honor their parents. The original trust, the Pew Memorial Trust, was funded with Sun Oil Co. stocks, which was established by Joseph Pew. In the 1970s, the company would begin diversifying its concentrated stock holdings, striving to create “sophisticated investment strategies to preserve principal, achieve capital appreciation and generate income to meet distribution requirements.” In 1978, the company would officially provide formal service offerings for families, foundations, and endowments. By the 1990s, the company would have expanded outside of its original location in Philadelphia and become a national company. The Glenmede Trust Company currently has over 1,700 clients located throughout the United States with offices in Princeton, Morristown, Wilmington, Cleveland, New York City, and Washington D.C. The company has moved its proprietary equity and fixed income strategies management to its subsidiary, Glenmede Investment Management, which has over $10 billion in total assets under management spread across 3,000 accounts with the majority of its clients being high net worth individuals, the client group alone making up over half of its entire client base. Glenmede Trust Company itself has over $49 billion in total assets under management, maintaining the feel of a small independent company by having a 6 to 1 client to employee ratio and, thusly, reflecting its ideals in providing both “the deep resources of a large, publicly owned firm and the client focus and responsiveness of an independently owned boutique.” The Glenmede Trust Company currently provides its various wealth advisory services, ranging from estate planning to consolidated manager reporting, to institutional investors, public funds, retirement plans, foundations, and endowments.