AST Trust Co., a Phoenix division of American Stock Transfer and Trust Co., said Tuesday that it had bought Capital Trust Co. of Delaware.
The purchase, which took effect immediately, creates an organization with about $19 billion of trust assets under administration.
Greg Tschider, the president of AST, said in a press release that the deal creates a broader national presence for his company, with offices in New York; Phoenix; Wilmington, Del.; Denver; and Portland, Ore. Capital Trust is to keep operating under its own name initially.
The resulting company retains its status as a Delaware chartered trust company.
