CORAL GABLES, Fla., April 09, 2019 (GLOBE NEWSWIRE) -- Fiduciary Trust Company International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, announced today that Michael A. Cabanas, managing director and head of relationship development for Fiduciary Trust International of the South, has been appointed regional managing director for the firm’s South Florida office in Coral Gables. Linda Krouner, his predecessor as regional managing director, will split her time between Fiduciary Trust’s offices in Coral Gables and New York, where she will continue to play an active role in client and portfolio management.
“This is a natural step for Michael given his in-depth knowledge of South Florida and the wealth management needs of the region’s residents,” said Lawrence A. Sternkopf, president and chief operating officer of Fiduciary Trust Company International. “We also value Linda’s ongoing contributions to our South Florida business, and look forward to working with both Linda and Michael to expand our client base and capabilities across the region.”
Mr. Cabanas remains focused on growing Fiduciary Trust’s presence in South Florida by raising community awareness of the firm’s wealth management capabilities, working with existing clients, and generating new business. He originally served as a business development officer for Fiduciary Trust International of the South from 2006 to 2013, and rejoined the firm as managing director and head of relationship development in 2016. Earlier in his career, Mr. Cabanas was executive vice president and head of wealth management at Coconut Grove Bank. He also held senior banking positions at BNY Mellon Wealth Management and J.P. Morgan Private Bank.
“Michael has been instrumental to the success of the Coral Gables team and Fiduciary Trust as a whole,” said Ms. Krouner. “His client relationships, wealth management expertise, and community involvement are essential to our long-term regional growth efforts.”
In addition to having been elected to the Orange Bowl Committee as an active member for 2018-2019, Mr. Cabanas is a member of the University of Miami’s Citizens Board and a past board member of the Boys & Girls Clubs of Miami-Dade. He received his MBA from Nova Southeastern University, and his bachelor of science degree from Florida International University.
Fiduciary Trust continues to add experienced wealth management professionals to its offices in South Florida. Michael Schiff joined the firm’s Boca Raton office as a wealth director in September 2018, and Edgardo Gonzalez came aboard as a Coral Gables-based senior portfolio manager in August 2018. Leticia Hernandez also joined Fiduciary Trust’s Coral Gables office as trust counsel in June 2018.
About Fiduciary Trust
Fiduciary Trust Company International, a global wealth management firm, has served individuals, families, endowments and foundations since 1931. With over $70 billion in assets under administration and management as of December 31, 2018, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The firm and its subsidiaries maintain offices in New York, NY, Coral Gables, FL, Boca Raton, FL, St. Petersburg, FL, Los Angeles, CA, San Mateo, CA, Washington, DC, Wilmington, DE, and Arlington, VA. For more information, please visit fiduciarytrust.com, and for the latest updates, follow Fiduciary Trust on LinkedIn and Twitter: @FiduciaryTrust.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the Company has expertise across all asset classes, including equity, fixed income, alternatives and custom multi-asset solutions. The Company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With employees in over 30 countries, the California-based company has more than 70 years of investment experience and over US$712 billion in assets under management as of March 31, 2019. For more information, please visit franklintempleton.com.