Cambridge Bancorp and its subsidiary, Cambridge Trust Company, have formed Cambridge Trust Company of New Hampshire, a non-depository trust company chartered by the State of New Hampshire.
The new subsidiary is headquartered in Concord, New Hampshire, and is fully operational.
Cambridge Bancorp said this new subsidiary was established to attract clients from other states who may be drawn to New Hampshire’s robust trust laws and favorable tax climate.
Cambridge Trust Company executive vice president for Wealth Management division Michael Duca the company had investment management and trust administration clients in New Hampshire for decades and have served them through the company’s New Hampshire offices since 1996. This new charter simply solidifies the company’s status as a preeminent corporate fiduciary in New Hampshire.