WILLIAMS GROUP was engaged to assist the executive committee and employee benefits committee of a large Architectural company managing a $30 million ESOP plan in the selection of a new plan trustee. The current bank trustee relationship was exiting the market, the solution to transition the successor trustee was not an acceptable to the organization. The executive committee and employee benefits committee had no experience with benchmarking and interviewing trustees for ESOP plans and wanted to investigate market opportunities. Having had a previous bad experience the committee’s needed a trustee with a track record that could gain the confidence when unconvinced committee.
The ESOP trustee search found the best candidate with trustee experience to provide, trustee services & introduce solutions to retain key employees utilizing synthetic rewards with ESOP stock.