What is a Corporate Fiduciary?
Corporate fiduciaries are entities that are entrusted with the task of managing the financial assets of a given party. An example of a corporate fiduciary would be a trust company or a bank. In order to carry out the various responsibilities associated with the management of the assets, a corporate fiduciary will often be granted the legal authority to make use of the assets in any manner that is anticipated to result in an advantage for the owner of the assets. In some cases, a corporate fiduciary is selected by a party for personal or business reasons. At other times, fiduciaries are appointed by a court of law as a means of protecting the assets of an individual or corporation.
