New York Private Bank & Trust, through its subsidiary Emigrant Partners, has announced that it has made an investment in AUTUS Asset Management LLC, which provides personalized wealth management services to high-net-worth individuals and families.
The new investment will provide the Scottsdale, Ariz.-based AUTUS, which currently has more than $950 million in assets under management, with the expertise, resources and capital of New York Private Bank & Trust, according to a news release.
“We are thrilled to have a firm of AUTUS’ caliber join Emigrant Partners. The partners of AUTUS have built a pre-eminent wealth management firm that provides their clients with the highest levels of personalized advice and service,” said Karl Heckenberg, CEO of Emigrant Partners.
Led by philanthropist, financier and entrepreneur Howard Milstein, representing the third generation of New York’s prominent Milstein banking and real estate family, New York Private Bank & Trust and its operating bank, Emigrant, are now the largest privately held, family-owned bank in America. It offers fully-integrated banking, custom lending, insurance services and trust administration services to meet the needs of wealthy individuals, families, endowments, foundations and corporations, directly and through its various subsidiaries, including Emigrant Capital, New York Private Trust, Emigrant Fine Art Finance, Personal Risk Management and Galatioto Sports Partners.
AUTUS, which was founded more than 15 years ago, offers comprehensive wealth management solutions and services, including retirement planning, tax and cost efficiency services, and independent research tailored to client needs. The firm serves high-net-worth individuals and families.