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TRUST SERVICES

Metropolitan Capital Bank & Trust offers a full array of customizable trust services, including wealth management advisory, estate planning, trust formation and administration, tax-related advisory and duties to beneficiaries. Our Trust Services Group works closely with clients to create estate planning and wealth transferring strategies to maximize the goals of clients, minimize tax consequences, and mitigate potential liabilities.

We seek to understand our client’s unique goals, which may include preserving control over wealth, providing for current and future beneficiaries, avoiding the probate process, managing tax liabilities, reducing administrative burdens, facilitating charitable giving, and providing for dependents with special needs. We work with our clients to analyze their comprehensive goals and then assist in the organization and oversight of custom trust solutions.

Whether you are accumulating wealth, investing for retirement, planning for future generations or have other goals, Metropolitan Capital Bank & Trust can structure a wealth management program to meet your objectives. Metropolitan Capital Bank & Trust can act in many capacities as it relates to the formation and administration of your wealth management structure as outlined below.

Corporate Trustee

By utilizing Metropolitan Capital Bank & Trust as a corporate trustee, clients can be assured that a corporate fiduciary will act in an impartial and objective manner to administer their trust in accordance with the terms of the trust document and appropriate regulations. As a corporate trustee, Metropolitan Capital Bank & Trust provides personalized services to the beneficiaries of the trusts while ensuring the intent of the grantor is carried out. As part of our trust administration services we offer:

  • Fiduciary Investment of Trust Assets
  • Tax Preparation Services
  • Principal and Income Accounting

Trust Administration Services

Metropolitan Capital Bank & Trust will lift the burden of administering a trust from individual trustees. The Trust Services Group will assist clients with administering their trusts in a variety of ways including:

  • Management and Investment of Trust Assets
  • Act as Corporate Trustee (Co-Trustee or Successor Trustee)
  • Estate Settlement Services
  • Protection of Confidential Information
  • Preparation of Tax-Related Documents

Estate Administration Services

Through its Trusts Services Group, Metropolitan Capital Bank & Trust will employ its expertise and knowledge to fulfill the settlement of an estate with an attention to detail that will ensure it is administered in full satisfaction of the trust document. As a part of our estate administration services, we offer:

  • Asset Collection & Valuation
  • Probate Services
  • Review and Evaluation following Tax Preparation
  • Detailed Accounting
  • Distribution of Assets

We also work with our strategic partners in specialized practice areas, including:

  • Investment Management
    1. Managed Portfolios
    2. Mutual Funds
    3. Exchange Traded Funds
    4. Fixed Income
    5. Individual Equities
    6. Alternative Investments
  • Wealth Planning Strategies
  • Estate Planning
  • Tax and Accounting

For more information, please do not hesitate to contact any member of the Trust Services Group:

Michael P. Rose is Chairman, CEO, and Trust Officer of Metropolitan Capital Bank & Trust. He played a key role in the formation and development of Metropolitan Capital Bancorp, Inc., the Bank’s Financial Holding Company, as well as its Bank, Investment Bank, and Insurance Agency subsidiaries. Mr. Rose was formerly the CEO of the Illinois Housing Development Authority and was a founder and Principal at Lexecon Strategy Group. Mr. Rose received a B.S. in Economics with Highest Distinction from the University of Illinois at Urbana-Champaign and a J.D. from the University of Virginia School of Law and maintains his State of Illinois bar membership. Mr. Rose is a member of the Chicago Club, serving on its Membership Commission, and a member of both the Arts Club of Chicago and the Economic Club of Chicago. He also holds his series 7, 24, and 63 licenses.

To contact Michael Rose, please call 312.640.2384 or email mrose@metcapbank.com.

Frank P. Novel is President and Trust Officer of Metropolitan Capital Bank & Trust. Mr. Novel was involved in the founding of the Company, as well as its subsidiary Bank, Investment Bank, and Insurance Agency. Mr. Novel has more than 40 years of banking and regulatory experience. Prior to joining Metropolitan Capital Bank, Mr. Novel was Chief Operating Officer of Bridgeview Bank and spent six years as a bank examiner with the Federal Deposit Insurance Corporation. He has been the past president of three different banks: the State Bank of Lombard, Security Bank of DuPage and Pan American Bank. He also held the position of Executive Vice President and Chief Administrative Officer at Edgemark Financial Corporation and Chief Operating Officer at Bridgeview Bank Group. Mr. Novel has also served as a Trust Officer in his prior banking experience. He is a Certified Treasury Professional and also holds his series 7, 24, and 63 licenses. Mr. Novel holds a B.S. in Economics through Purdue University, a degree from the American Bankers Association Stonier Graduate School of Banking at Rutgers University, and Mr. Novel has completed the American Bankers Association Graduate Trust School.

To contact Frank Novel, please call 312.640.2309 or email fnovel@metcapbank.com.

Alexander B. Penning is a Private Capital Manager and Assistant Trust Officer at Metropolitan Capital Bank & Trust. Since joining Metropolitan Capital Bank & Trust in 2006, Mr. Penning has worked with many trust clients with complex circumstances and crafted solutions to meet their needs. Mr. Penning additionally focuses on creating business development tools and strategies for Metropolitan Capital Bank. He previously held positions at Unum Corporation and Jenner & Block LLP. Mr. Penning graduated from DePauw University where he received a B.A. in Economics.

To contact Alex Penning, please call 312.640.2324 or email apenning@metcapbank.com.

Scott J. Clifton is a Private Capital Manager and Assitant Trust Officer at Metropolitan Capital Bank & Trust. Mr. Clifton has assisted in dealing with complex client trust circumstances and has helped them to meet their objectives. He previously held an internship as an Analyst with The PrivateBank. Before that, Mr. Clifton held a position with First Miami Credit Union in Miami, Ohio. Mr. Clifton graduated from the Farmer School of Business, Miami University in Ohio, with a B.S. in Finance.

To contact Scott Clifton, please call 312.640.2365 or email sclifton@metcapbank.com.


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