Morgan Chase rumors.

I've been bombarded by emails and phone calls regarding the status of Morgan Chase Trust Company, also known through their marketing arm as First Capital.

I had a couple of phone calls with several of the principals last week, and I will be having as my guest on Settlement Round Table two of the senior officers of the company early next week do discuss the changes occurring with the company. What I can tell you in advance is the following:

1. Rumors of financial stability or organizational chaos are grossly exaggerated and untrue. It is a state regulated and regularly examined financial institution and any rumors to the contrary are likely being pushed by competitors.

2. There is a new senior management team being put in place, but Frank McGuire is still firmly directing the course of the organization as new board members come on to replace others who were retired.

3. Clearly there is transition and struggle as to the direction of the firm under it's soon to be unveiled new name, new products as well as expansion of it's existing product line through other channels. Change can be painful and distracting but I have no doubt it will emerge in the next month as a firm pushing ahead in it's core markets.

I'll be sure to post the interviews on the front page so you don't miss them.

Comments

[John Darer]

I heard from yet another client today who was very satisfied with services from Morgan Chase Trust Company, now First Capital Surety & Trust Company