A multi-generational, single family private trust company, located in Detroit is looking for a President. The Company serves a diverse group of family clients across three generations and oversees a family office that was built on the success of the families multiple operating businesses in the food, sports and entertainment industries. The Company provides legal, tax, accounting, financial management and reporting, trust and fiduciary administration, investment management, and a variety of other services.

The President will lead the private trust company and family office that strives to provide best-in-class services for its family client base. He/She will set the overall direction for the Company and family office and is ultimately responsible for comprehensive financial, estate and tax planning, compliance, investment oversight, as well as, client service activities. The President will coordinate services provided by external advisors in the areas of estate and tax planning, legal services, investment advisory and banking services. Additionally, the President will also manage operations and staffs of the Company, the family office and other family entities as may be designated. This position handles a wide range of sensitive and confidential information.

Key Responsibilities

·         Develops a strategic plan and sets strategy for advancing the vision and mission of the Company by anticipating client needs and refining service offerings.

·         Builds, develops and maintains solid relationships with all family member clients; builds and communicates awareness of the Company’s value proposition to its clients.

·         Oversees the leadership, management and monitoring of the private trust company, including fiduciary and investment function, regulatory compliance, risk management, human resources, tax planning and compliance, estate planning, financial reporting, cash-flow management, general ledger accounting, - administrative functions of the Company and the family office.

·         Motivates, leads, and empowers a high-performance team of employees; attracts, recruits, and retains members of that team; sets clear goals and performance objectives and routinely provides feedback to team members.

·         Engages and cost effectively manages outside consulting resources and external advisors; reviews and supervises third-party investment managers and advisers, including review of performance and asset allocation for trust and individual investments.

·          Works with family members to help them achieve their personal and financial objectives. Acts as an adviser on strategies for wealth stewardship, asset protection, wealth transfer, and estate planning. Identifies opportunities and conducts due diligence regarding investments, external investment managers, and private equity investments (as requested by family members).

·          Coordinates a comprehensive risk management program for family members as requested, potentially including the design, implementation, and operation of a captive insurance company.

·          Manages the operation of family charitable foundations in accordance with IRS rules and regulations.

·         Develops and implements an education program regarding the family businesses, shareholder and beneficiary roles and responsibilities, and wealth management.

·         Supports the Family Council in planning family meetings, education sessions, and other programs.

Qualified Candidates Meet This Criteria:

·         A Bachelor’s Degree (preferably in Finance and/or Accounting). An advanced degree, such as a JD or MBA, or, a CPA designation, is preferred, along with a background in accounting or financial planning.

·         Extensive experience (15+ years) and broad knowledge of the family office and trust company industries (with at least 5+ years in a leadership position) and best practices, including in the areas of wealth management/financial planning, trusts, financial and tax and investment portfolios for taxable family clients. Experience should include trust assets involving operating businesses and where a succession has occurred.

·         Excellent interpersonal and communication skills, with the ability to develop strong relationships with family members and family business executives and earn their respect and confidence as a trusted adviser and colleague. 

·         Adept at developing creative solutions to complex problems, such as estate and income tax planning, expanding investment activities, managing operating businesses, acquisitions of businesses or property, structuring global wealth preservation vehicles, developing business succession and governance plans, and managing charitable organizations.

·         Demonstrated leadership skills and experience managing teams of professionals and advisers.

·         Outstanding technical and analytical skills in tax and sophisticated estate planning, with the ability to effectively supervise the preparation of income, estate, and gift tax returns.

·         Strong financial acumen and sound business judgment, with the ability to work seamlessly with family members and other advisers across multiple platforms and varied subject matters.