U.S. Trust

U.S. Trust was a historic American wealth management firm and private bank that specialized in providing investment management, fiduciary services, and private banking to high-net-worth individuals and institutions. Founded in 1853, it was the first company in the United States to be chartered specifically to act as an executor and trustee. While not a biotechnology or pharmaceutical company, U.S. Trust is significant in the life sciences sector for its role as a trustee and administrator for numerous charitable trusts and foundations that provide substantial funding for medical research. The company was acquired by Bank of America in 2007 for approximately $3.3 billion and was eventually rebranded as Bank of America Private Bank in 2019. Consequently, the firm does not maintain a therapeutic pipeline or engage in direct clinical development.