trustee

trustee
agent of a bond issuer who handles the administrative aspects of a loan and ensures that the borrower complies with the terms of the bond indenture. Bloomberg Financial Dictionary
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When a person is the legal owner of assets, but is holding them on behalf of another person who is to receive the benefit from the assets ( i.e. the beneficiary), then the legal owner is holding the assets on trust for the beneficiary and is referred to as a trustee. Trustees have a legal obligation to manage and invest the assets appropriately on behalf of the beneficiary. A common example of a trust is a unit trust, where the trustees of the trust are holding the assets on behalf of the unit holders. The assets are invested by the unit trust manager on behalf of the trustee. Another example is when an adult holds assets on trust for a child until the child reaches his majority. Where the role is undertaken by professionals as a business the activity will require authorisation. Dresdner Kleinwort Wasserstein financial glossary
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In a fiduciary relationship, called a trust, it is a person who holds title to property for the benefit of another person. Euroclear Clearing and Settlement glossary
See nominee. Euroclear Clearing and Settlement glossary
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An individual or organisation who/that looks after assets for the benefit of another.

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trustee trust‧ee [ˌtrʌˈstiː◂] noun [countable]
1. LAW FINANCE someone who controls money or property that is in a trust for someone else:

• the trustees of the pension fund

ˌactive trustˈee LAW FINANCE
a trustee who invests the money they have control over, rather than simply passing it on to someone at the particular time they are allowed to have it
ˌbare trustˈee LAW FINANCE
a trustee who holds property or assets and passes them on to someone at the particular time they are allowed to have it
conˌstructive trustˈee LAW FINANCE
someone who is in charge of a constructive trust
2. FINANCE a member of a group that controls the money of a company, college, or other organization:

• It is being operated by a trustee appointed by the federal Bankruptcy Court.

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   Institution appointed to ensure all terms and conditions of the bond indenture are fully adhered to.

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trustee UK US /trʌsˈtiː/ noun [C]
► a person or organization legally chosen to work alone or as part of a group to manage money or property for others: »

The pension fund is managed by a 12-member board of trustees.

 »

The CEO, who is responsible for developing overall strategy, reports to a board of trustees.

 »

She was invited to become a trustee for her local wildlife charity.

→ See also ACTIVE TRUSTEE(Cf. ↑active trustee), BARE TRUSTEE(Cf. ↑bare trustee), CONSTRUCTIVE TRUSTEE(Cf. ↑constructive trustee)

Financial and business terms. 2012.

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Synonyms:
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Look at other dictionaries:

  • trustee — trust·ee 1 /ˌtrəs tē/ n 1: one to whom something is entrusted: one trusted to keep or administer something: as a: a member of a board entrusted with administering the funds and directing the policy of an institution or organization b: a country… …   Law dictionary

  • trustee — an agent of the court who manages the property of the debtor for the benefit of the creditors. The court appoints a trustee in most Chapter 7 cases and in Chapter 11 cases when it determines that the debtor s management should not remain in their …   Glossary of Bankruptcy

  • Trustee — is a legal term that refers to a holder of property on behalf of a beneficiary. A trust can be set up either to benefit particular persons, or for any charitable purposes (but not generally for non charitable purposes): typical examples are a… …   Wikipedia

  • Trustee — Trus*tee , n. (Law) A person to whom property is legally committed in trust, to be applied either for the benefit of specified individuals, or for public uses; one who is intrusted with property for the benefit of another; also, a person in whose …   The Collaborative International Dictionary of English

  • Trustee — Trus*tee , v. t. 1. To commit (property) to the care of a trustee; as, to trustee an estate. [1913 Webster] 2. (Law) To attach (a debtor s wages, credits, or property in the hands of a third person) in the interest of the creditor. [U. S.] [1913… …   The Collaborative International Dictionary of English

  • trustee — ● trustee nom masculin (anglais trustee) Mandataire qui, ayant reçu des instruments de paiement, doit les délivrer à leur bénéficiaire dans des conditions définies. Administrateur qui, aux termes d un accord entre créanciers et débiteurs, assure… …   Encyclopédie Universelle

  • trustee — [trus tē′] n. 1. a person to whom another s property or the management of another s property is entrusted 2. a nation under whose authority a trust territory is placed 3. any of a group or board of persons appointed to manage the affairs of an… …   English World dictionary

  • Trustee — (engl., spr. Tröstih), 1) der Betraute, Beglaubigte, Bevollmächtigte; 2) Administrator, 3) Vormund, Curator; 4) Fideicommissar, Besitzer eines Fideicommißgutes; 5) Vorsteher, Schuldirector …   Pierer's Universal-Lexikon

  • Trustee — (engl., spr. tröstī), »Vertrauensmann«, Bevollmächtigter, Vormund etc.; vgl. Trust …   Meyers Großes Konversations-Lexikon

  • Trustee — (engl., spr. trößtíh), Bevollmächtigter des Trusts (s.d.) …   Kleines Konversations-Lexikon

  • trustee — person who is responsible for the property of another, 1640s, from TRUST (Cf. trust) + EE (Cf. ee) …   Etymology dictionary

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