Bessemer Trust enters Houston market

NEW YORK, Oct. 22, 2014 /PRNewswire/ -- Bessemer Trust, an independently owned wealth management firm, announced today that Houston, the nation's fourth largest city, is now home to Bessemer's 17^th office in the U.S. and the second in Texas. 

"Bessemer has worked with clients in Houston and the surrounding areas for many years," said Bessemer Trust CEO Marc Stern. "As our relationships broadened and our work with the trust and estate, tax, and legal communities grew, it made sense to establish a physical presence here," he said. "We are very excited to strengthen our ties with this great city."

Founded in 1907 by Henry Phipps, the co-founder of Carnegie Steel, Bessemer Trust is focused exclusively on preserving and enhancing the wealth of its clients.  The company helps its clients create long-term wealth plans that integrate investment management with tax strategies, generational planning, and more.  With a platform in which owners, employees, and clients are invested side by side, the privately owned firm oversees $97.5 billion for more than 2,200 clients.

Jim Chandler, managing director and head of the Houston office, is responsible for overseeing client relationships and leading Bessemer's local team of professionals.  Mr. Chandler has more than 30 years of investment and wealth management experience working with ultra-high-net-worth families and institutions.  He comes to Houston from Bessemer's Washington, D.C. office, where he was a managing director and senior client advisor. 

Kevin Bourke, senior vice president and wealth advisor for Bessemer, is also based in the Houston office.  He is responsible for business development and client relationships in Texas and throughout the Southwest.  Mr. Bourke has been with Bessemer for three years, and has more than a decade of experience working with ultra-high-net-worth clients.

Mr. Chandler and Mr. Bourke are joined in Houston by David Parker, a well-known oil and gas asset management expert, as senior vice president and head of oil and gas advisory.  Mr. Parker has worked in Houston for almost 35 years, and has over 30 years of experience in the energy industry working with both producers and landowners. He joins Bessemer from Northern Trust, where he was a senior vice president. 

"We are excited to be building a great team in Houston with people who understand the issues that matter most when dealing with the complexities of wealth," said David Bunce, Bessemer's central and southern region head.  "I am looking forward to expanding our presence in the Houston area, and getting to know other families in the area who would benefit from our wealth-management capabilities."

About Bessemer Trust
Founded in 1907, Bessemer Trust is a privately owned wealth management firm that focuses exclusively on ultra-high-net-worth families and their foundations and endowments. The firm oversees $97.5 billion for more than 2,200 clients and provides an integrated approach to the investment, trust, estate, tax, and philanthropic needs of its clients.

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SOURCE Bessemer Trust