trustee

(redirected from trusteed)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.
Related to trusteed: TPSC

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Trustee

1. The individual or company who manages assets in a trust on behalf of the beneficiary.

2. More generally, any individual or company who manages assets on behalf of another. For example, a bank may hire a trustee to distribute funds from a loan to the borrower.

In both cases, the trustee has a fiduciary responsibility to act on behalf of the beneficiary or client, rather than in his/her own interests.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

trustee

An appointed person or institution that manages assets for the benefit of someone else. Trustees are most often trust corporations or trust departments of commercial banks that manage the assets for a fee based on a percentage of the size of the trust (usually under 1%). A trust may be very restrictive or it may allow the trustee wide discretion, depending upon the grantor's wishes.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Trustee.

A trustee is a person or institution appointed to manage assets for someone else's benefit.

For example, a trustee may be responsible for money you have transferred to a trust, or money in certain retirement accounts.

Trustees are entitled to collect a fee for their work, often a percentage of the value of the amount in trust. In turn, they are responsible for managing the assets in the best interests of the beneficiary of the trust. That's known as fiduciary responsibility.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

trustee

see TRUST.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

trustee

see TRUST.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005