Bessemer Trust

Overview

Bessemer Trust describes private wealth management as its sole business focus.² The firm serves individuals and families of substantial wealth through investment management, wealth planning, and family office services.¹² Its listed offices include locations across the United States, as well as Grand Cayman.³ New York is listed as the firm’s headquarters.³

History

Bessemer Trust began in 1907 when Henry Phipps created a family office serving one family.⁴ Bessemer describes Phipps as an entrepreneur, philanthropist, and founding partner of Carnegie Steel.⁵ The founding family remains the firm’s owner and largest client.⁴ Bessemer reports 119 years serving clients and their families across seven generations.¹

Leadership

Bessemer’s leadership page lists Holly H. MacDonald as Chief Executive Officer, Michael A. Marquez as President, Jeffrey Mills as Chief Investment Officer, John B. Hall as Chief Operating Officer, Allison D. Heilborn as Chief Financial Officer, and George D. Phipps as Chairman of the Board.⁶ The firm’s 2025 annual report says Marc D. Stern retired in January 2026 after serving 13 years as CEO and eight years as CIO.⁷

Services

Investment management includes investment strategy and research, customized asset allocation, internal and external portfolios, and asset advisory.² Wealth planning covers trust and estate matters, tax and risk management, family and next generation planning, and philanthropy.²

Family office services include custody and reporting, private banking, bill payment and accounting, and human resource services.² Bessemer says these services can support supplemental operational work, consolidate multiple providers, provide full outsourcing of family office operations, and help evaluate family office structures.⁸

Private banking services include checking accounts, money transfers, loans, currency exchange, and letters of credit.⁸ Bill payment and accounting services include bookkeeping, entity accounts payable, employee expense reimbursement, personal bill payment, and detailed reporting.⁸

Bessemer also provides corporate trustee services that include safeguarding and valuing trust assets, overseeing investment, making distributions, communicating with beneficiaries, maintaining records, and preparing tax returns.⁹ The firm says it can act as trustee for trusts holding operating companies, real estate, and other private investments.⁹

What the firm offers

• Investment management
• Financial planning
• Tax planning
• Trust and fiduciary
• Philanthropy
• Family governance and education
• Administration and bill pay
• Risk and insurance
• Private and alternative investments

Client focus

Bessemer identifies individuals and families of substantial wealth as its clients.¹ Its reported client base includes 3,000 client relationships.¹ The firm reports a three to one client to employee ratio.¹

Investment philosophy and approach

Bessemer says its operating principles include private ownership and independence, a singular focus on private wealth management, alignment of interests, and serving rather than selling.⁴ Its investment management offering combines strategy and research, asset allocation, internal and external portfolios, and asset advisory.²

Assets and minimums

The current key facts page reports approximately $250 billion in assets under supervision as of October 23, 2026.¹ The firm also reports 15,000 trusts for which it serves as trustee or co trustee.¹ The Form ADV filing names Bessemer Trust Company, N.A. as a custodian and lists its custodian office in New York, New York, United States.¹⁰

FAQs

Related resources

• LocationMultifamily offices in New York

  This New York directory helps families and business owners place Bessemer Trust within the region's multifamily office market. It provides a starting point for comparing firms that may offer investment management, financial planning, tax planning, fiduciary services, and family administration.

• Network siteEstatePlanner.com

  EstatePlanner.com offers practical guides on wills, trusts, and estate planning. These materials can help a prospective Bessemer Trust client prepare questions about wealth transfer, fiduciary arrangements, family governance, and coordination between estate documents and broader financial plans.

• Network siteFamilyOffices.com

  FamilyOffices.com provides resources and community perspectives for single family offices and wealthy families. Readers considering Bessemer Trust can use it to learn about family office structures, education, philanthropy, administration, and the range of decisions involved in managing family wealth.

• GuideHow multifamily offices invest

  This overview explains common ways multifamily offices invest, including approaches to public markets, private investments, and alternative assets. It can help a prospective Bessemer Trust client frame questions about investment management, portfolio objectives, liquidity, risk, and how investing fits with financial planning.

• Similar firmsEhrenkranz Partners
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  Profiles of Ehrenkranz Partners, The Abernathy Group II Family Office, and First Long Island Investors, LLC offer additional firms to review on this site. Comparing their stated services and client focus with Bessemer Trust's multifamily office context can help a family owner define priorities for investment, planning, fiduciary, and administrative support.

Sources

1. Bessemer Trust Key facts , accessed 2026-10-23.
2. Managing your financial life , accessed 2026-10-23.
3. Our offices , accessed 2026-10-23.
4. Peace of mind , accessed 2026-10-23.
5. Bessemer Trust in San Diego , accessed 2026-10-23.
6. Our leaders , accessed 2026-10-23.
7. 2025 Annual Report , accessed 2026-10-23.
8. Family Office Services PDF , accessed 2026-10-23.
9. Corporate Trustee Services PDF , accessed 2026-10-23.
10. SEC/IAPD Form ADV PDF , accessed 2026-10-23.

Claim or correct this profile

This profile is a factual summary written in our own words from public sources. It is for information only. It is not an endorsement, rating, ranking or recommendation, and it is not investment advice. MultiFamilyOffices.com is not affiliated with the SEC or with this firm unless stated. Form ADV figures are self-reported by the firm.