Robert Edwards Named President of NewTower Trust Company to Succeed Patrick Mayberry Who Will Retire in 2015

BETHESDA, Md., Dec. 11, 2014 /PRNewswire/ -- NewTower Trust Company (NewTower), a Maryland-based, non-depository trust company that provides fiduciary and trustee services to the $6.9 billion Multi-Employer Property Trust (MEPT), today announced that its Board of Directors has selected Robert Edwards, 54, as President. Mr. Edwards will succeed Patrick Mayberry, 67, the founding President and Chief Executive Officer of NewTower, who recently announced his retirement after 23 years of service to MEPT. Mr. Mayberry will retire on or before March 31, 2015, after a period of transition.

Mr. Edwards has been serving as NewTower's Chief Financial Officer and has been leading the financial operations, asset valuations, trust accounting and reporting, and financial audits and regulatory exams for MEPT for the past 24 years at NewTower and earlier, at Riggs Bank. Mr. Edwards worked closely with Mr. Mayberry on the establishment of NewTower in 2005 and has since worked to ensure the MEPT strategy is managed in the best interests of its investors.

Mr. Edwards has also been a member of the firm's Trust Real Estate Investment Committee, managed operational aspects of the firm, and worked closely with Bentall Kennedy, real estate advisor to MEPT, and Landon Butler & Company, LP^® investor relations provider to MEPT, to execute the Fund's investment strategy.

"It has been my privilege to work in close collaboration with Rob for over 20 years in the service of MEPT investors," stated Mr. Mayberry. "I am confident that he is well-suited and well-prepared to continue NewTower's efforts to provide market-leading fiduciary oversight and the highest level of client service to investors."

On his promotion, Mr. Edwards noted: "I am proud of the work that we accomplished under Pat's leadership. Working closely with Bentall Kennedy and Landon Butler & Company, my mission is to find new and innovative ways to position NewTower for the future so that we are prepared to address the ever-changing regulatory requirements in the pension industry and the additional demands placed on institutional fiduciaries. I plan to continue to implement best-in-class practices to ensure we meet those demands and, at the same time, continually enhance our services to investors."

Daniel W. Toohey, Chairman of the Board of Directors at NewTower, noted: "We would like to thank Pat for two decades of service to MEPT, stewarding the Fund through several real estate cycles and setting the highest standards for fiduciary oversight not only for the Fund, but for the industry. The Board is confident the transition from Pat to Rob will be seamless since they have worked side by side for many years. Furthermore, Rob is extremely qualified and is a proven member of the NewTower team. We look forward to Rob leading NewTower into the future."

Mr. Edwards has a B.S. in Business Administration and Accounting from Bucknell University. He is also a member of the National Council of Real Estate Investment Fiduciaries (NCREIF), Pension Real Estate Association (PREA), and the Greater Washington Society of Certified Public Accountants.

About NewTower Trust Company

NewTower Trust Company's mission is to bring industry-leading knowledge of real estate investing to the provision of investment management and trustee services for institutional clients. NewTower provides the MEPT strategy with expertise in the areas of compliance, risk management, accounting and financial reporting, valuation, portfolio analytics and performance reporting, and trust custody.

For more information, contact: 
Maureen Richardson
River Communications
914 686 5599 
[email protected] 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/robert-edwards-named-president-of-newtower-trust-company-to-succeed-patrick-mayberry-who-will-retire-in-2015-300008776.html

SOURCE Multi-Employer Property Trust