Assisting Families in Preserving and Enhancing Wealth for Generations

The Art of Creating Lasting Legacy Our focus is providing the highest quality services to enhance and preserve the financial well being of our clients. Our innovative, customized approach supports each family based on their unique situation and needs. Integrity, strength of leadership and our innovation are the hallmarks of Legacy Trust.

Since our founding in 1984, Legacy Trust Company, N.A. has been assisting families and foundations in preserving their assets, enhancing their wealth, and successfully planning for the transfer of their legacies across multiple generations.

Our commitment to personalized service and strong client relationships, coupled with expert management, has enabled Legacy Trust to grow total assets under our administration to $3 billion.

Integrity and strength of leadership, along with an innovative approach to wealth management are hallmarks of Legacy Trust.

As a trusted partner, we welcome the opportunity to help guide you in achieving your legacy.

Sculpture featured is from the Lillie and Hugh Roy Cullen Sculpture Garden, named after and made possible through the charitable contributions from members of the Cullen Family and Friends and from The Cullen Foundation.

Click here to access full views and details of sculpture featured.
Photography courtesy of the Museum of Fine Arts Houston

About Legacy Trust

Legacy Trust Company, N.A. was founded in 1984 as a family office trust company for a Texas family. Since that time, Legacy has evolved into a nationally chartered, full service trust company with assets under administration of $3 billion. Our staff of trust and investment professionals is well versed in the issues associated with family wealth. With offices in Houston, Texas and Wilmington, Delaware, Legacy Trust has clients throughout the United States.

From the onset, our sole business was, and remains today, the administration of family and foundation assets. Our goal is to provide the highest quality services in order to preserve and enhance the financial well-being of our clients.

A vital issue facing wealthy families today is preparing future generations for the responsibilities and pressures inherent when wealth is transferred. Our philosophy is that education and diversification are key to preserving and nurturing the assets held within a family.

Legacy Trust takes a multi-manager approach to investing financial assets. We engage premier equity, fixed income and alternative investment advisors to manage our clients’ portfolios and we strongly encourage asset diversification. We believe that successful financial management requires expertise across multiple asset classes.

At Legacy, we use an innovative, customized approach to wealth management, realizing that each family situation is unique and individual needs impact how resources should be managed.

 

The Legacy Trust Team

Edward R. “Ned” Naumes
Edward R. “Ned” Naumes
President and Chief Executive Officer, Director
Glenn A. Francis
Glenn A. Francis
Chief Operating Officer
Steve C. Sprengnether
Steve C. Sprengnether
Co-Chief Investment Officer, Private Markets
Elizabeth D. Williams
Elizabeth D. Williams
Co-Chief Investment Officer, Public Markets
Janice S. Crow
Janice S. Crow
Vice President & Chief Fiduciary Officer
Jennifer Patton Grosvenor
Jennifer Patton Grosvenor
Vice President, Trust Officer
Diane Guiberteau
Diane Guiberteau
Vice President, Trust Officer
Gregory A. Hammond
Gregory A. Hammond
Vice President, Tax Manager
Mary Jane E. Jwanisik
Mary Jane E. Jwanisik
Vice President, Trust Officer
William L. “Bill” Liles, Jr
William L. “Bill” Liles, Jr
Vice President, Real Property Manager
Stephen M. Sandhop
Stephen M. Sandhop
Trust Operations, Accounting
Sarah Snook
Sarah Snook
Vice President, Trust Officer
Joe D. Untermeyer
Joe D. Untermeyer
Vice President, Trust Officer
Brenda K. Vitek
Brenda K. Vitek
Vice President, Tax and Accounting Manager
Edward R. “Ned” Naumes

Edward R. “Ned” Naumes

President and Chief Executive Officer, Director

Ned has served as President and Chief Executive Officer of Legacy Trust since 1998, following a 5-year tenure as its Chief Financial Officer. He gained extensive experience in audit, trust administration, managing private equity portfolios and investments while employed with Arthur Andersen and as Executive Vice-President with First City National Bank. Ned serves on the boards of closely held companies engaged in finance, oil and gas, telecommunications, and real estate.

Ned earned his BA in Accounting from Santa Clara University, and his MBA in Finance from Cornell University.  He has been a long-time supporter of children’s reading advocacy programs, equine therapy and health care in emerging countries. Ned is currently working with numerous foundation boards involved in these endeavors.

Glenn A. Francis

Glenn A. Francis

Chief Operating Officer

Glenn has over 40 years of experience in administration and operation of fiduciary and public institutions. A CPA, Glenn joined Legacy in 1986 from the audit division of Arthur Andersen. Glenn received his BA in Accounting from Texas A&M and his MBA in Finance from the University of Houston. He is a member of both the Houston and Texas chapters of the American Society of CPAs and has also served on the boards of various community organizations.

Steve C. Sprengnether

Steve C. Sprengnether

Co-Chief Investment Officer, Private Markets

Steve joined Legacy Trust in 2005 after working in the investment management divisions of Goldman Sachs & Company and Morgan Stanley & Company in New York and Houston. Prior to his work in the financial services sector, he was a Captain in the US Army, serving in various assignments including deployment to Bosnia. Steve earned his BS in Systems Engineering from the United States Military Academy at West Point, his MBA from Rice University, and is a Chartered Alternative Investment Analyst. Steve is a past-President of The Periwinkle Foundation, an organization that provides emotional healing programs for patients at Texas Children’s Hospital.

Elizabeth D. Williams

Elizabeth D. Williams

Co-Chief Investment Officer, Public Markets

Liz has had investment experience since 1980 and began working with private clients in 1982. Prior to joining Legacy Trust in 2008, she was a Managing Director at JP Morgan Private Bank. She is a Chartered Financial Analyst and received her MBA and Master of Accounting from Rice University. Liz also earned a PhD in French (Rice) and a BA in French (Vanderbilt University, Phi Beta Kappa). She is a member of the Junior League of Houston and has served on the boards of various non-profit groups including Buffalo Bayou Coalition, Main Street Theater, and the St. John’s School Alumni Association.

Janice S. Crow

Janice S. Crow

Vice President & Chief Fiduciary Officer

Janice has been involved with banking, trust, and investment services since 1970 and with Legacy Trust since 2001. She previously held administrative positions with First City National Bank and Texas Commerce Bank. Janice earned her BA in Philosophy from Vanderbilt University and her JD from the University of Houston. She is a volunteer in numerous school, church, hospital, and community efforts relating to children’s needs.

Jennifer Patton Grosvenor

Jennifer Patton Grosvenor

Vice President, Trust Officer

 Jennifer joined Legacy Trust in 2006 and has over 20 years of experience in personal trust, estate administration, and foundation management. Prior to her association with Legacy, she was a Vice President and Fiduciary Manager with JP Morgan Private Bank. She received both her BA in History and JD from Vanderbilt University, where she served as an Associate Justice of the Moot Court Board. Jennifer is a member of the Junior League of Houston and the Houston Business and Estate Planning Council.

Diane Guiberteau

Diane Guiberteau

Vice President, Trust Officer

Diane joined Legacy Trust in 2010 with over 25 years of personal trust, estate administration, and private foundation management experience. She began her career in the trust department of US Trust, Bank of America (formerly Houston Citizens Bank and Trust). Diane works with several private family foundations and serves as a volunteer on the Development Board of the Archdiocese of Galveston-Houston, Planned Giving Committee for Northwest Assistance Ministries, and is a member of both Women in Philanthropy and Philanthropy Southwest.

Gregory A. Hammond

Gregory A. Hammond

Vice President, Tax Manager

Greg joined Legacy Trust in 2001 after having worked for the founding families since 1980. He has 45 years of experience in individual and business tax preparation, review, and planning, with a particular focus on trusts, individuals, and real estate and oil and gas partnerships. Greg earned his BBA in Accounting from Wichita State University. He is an active member of a men’s tennis league in his home city of Missouri City, Texas, and works on collector cars in his spare time.

Mary Jane E. Jwanisik

Mary Jane E. Jwanisik

Vice President, Trust Officer

Mary Jane joined Legacy Trust in 2002 when she opened and served as the company’s trust officer at the Wilmington, Delaware, office. In addition to her Delaware functions, she performs periodic internal compliance and operational reviews for the Houston office. She has over 20 years of experience in bank auditing, software system selections and conversions, and trust asset funding, having worked at Trust Funding Services (her proprietary company), First City Bancorporation, Allied Bancorporation, MCorp, and in the consulting division of Deloitte & Touche. She received her BS in Business Administration from the University of Delaware.

William L. “Bill” Liles, Jr

William L. “Bill” Liles, Jr

Vice President, Real Property Manager

Bill joined Legacy Trust in 1989, bringing almost 20 years of experience in private finance, commercial banking, and management of companies with special asset situations. He is a graduate of Lamar University with a degree in Economics. Bill has served as the Chairman of the Finance Committee of St. Stephen’s Episcopal School in Houston.

Stephen M. Sandhop

Stephen M. Sandhop

Trust Operations, Accounting

Steve joined Legacy Trust in 1998. Formerly with the accounting firm of Peat Marwick (KPMG), First City National Bank, Texas Commerce Bank, and JP Morgan Chase, he has over 30 years experience in trust, banking, and finance. Steve is a CPA and earned his BA in Accounting from Texas A&M University.

Sarah Snook

Sarah Snook

Vice President, Trust Officer

Sarah is Board Certified in Estate Planning and Probate with eight years of experience in trusts and estates. She practiced law with firms in El Paso and Houston before joining Legacy Trust in 2014. Sarah graduated cum laude from Rice University with a BA in Cognitive Sciences and earned her JD from the University of Houston. She and her husband enjoy spending time with their two young children and their activities.

Joe D. Untermeyer

Joe D. Untermeyer

Vice President, Trust Officer

Joe has been involved in trust and probate administration for over 45 years. He joined Legacy Trust in 1988 after spending 21 years with Bank of the Southwest and M Trust. Joe is a Finance Graduate of the University of Texas at Austin, and is a member of the Chancellor’s Council, Longhorn Foundation, and Littlefield Society. He also served on the Scholarship Endowment Foundation for Texas Tech University.

Brenda K. Vitek

Brenda K. Vitek

Vice President, Tax and Accounting Manager

Brenda joined Legacy Trust in 1991 after spending 10 years with Ernst and Young in the Tax Division. She is a CPA specializing in taxation of individuals, trust, estates, and family limited partnerships. She has an extensive background in wealth transfer planning as well as in Federal and State income, gift, and estate tax return compliance, and has represented clients before the IRS. Brenda earned her BBA in Accounting from the University of Houston and has held numerous officer positions in professional organizations, including past President of the Houston Estate and Financial Forum. She is an active member of the TSCPA and AICPA.

Legacy takes pride in its long-standing employee relationships.
We have a staff of 35 including an executive team of 14. Most of our employees have been with Legacy for over 20 years.

Board of Directors

Champion T. Traylor, III

Chairman of the Board
Investment and Ranching
Houston, Texas

Isaac Arnold, III

Investments
Former Assistant District Attorney
Houston, Texas

Harry H. Cullen, Jr.

Oil and Gas
Houston, Texas

Robert L. Cullen

Investments
Houston, Texas

Alfred C. Glassell, III

Oil and Gas
Houston, Texas

J. K. "Jim" Jones

Retired Banking
Former President Legacy Trust Company
Austin, Texas

Harris L. "Shrub" Kempner

Asset Management
Galveston, Texas

Edward C. Lasater

Investments
Former Assistant District Attorney
Fort Worth, Texas

Edward R. "Ned" Naumes

CEO, Legacy Trust Co.
Houston, Texas

Robert D. Spencer

Public Finance
Oakland, California

Advisory Directors

Isaac Arnold, Jr.

Houston, Texas

Harry H. Cullen

Houston, Texas

Garland M. Lasater, Jr.

Fort Worth, Texas

Douglas B. Marshall, III

Northfield, Minnesota

From Our Legacy To Yours

The Lillie and Hugh Cullen Sculpture Garden

Hugh Roy Cullen, oil man, “King of the Wildcatters” and philanthropist had a major impact on the City of Houston. With the establishment of The Cullen Foundation in 1947, Lillie and Hugh Roy Cullen helped launch a number of philanthropic projects including the Sculpture Garden on the grounds of the Museum of Fine Arts, Houston. Legacy Trust Company was founded by members of his family.

The Lillie and Hugh Roy Cullen Sculpture Garden is named in recognition of the generous donation bestowed upon the project by the Cullens in 1978. Together with the funding from the City of Houston Parks and Recreation Department, the Museum of Fine Arts Houston (MFAH) was able to commission Isamu Noguchi, renowned artist and landscape architect, to design the space.

The Cullen Sculpture Garden, the construction of which began in 1984 and was officially open to the public on April 5, 1986, is in itself a sculpture. Visitors enjoy a pleasurable respite from the bustle of the surrounding streets, not to mention the opportunity to see sculptures unencumbered by walls and artificial light.

Lillie and Hugh Roy Cullen created a legacy of giving generously – often unprompted and always selflessly – to enhance arts, education, and healthcare programs in the Greater Houston Metropolitan Area. The sculpture Garden at MFAH is just one of those gifts that the citizens of Houston, and visitors from around the world, will enjoy for years to come.

Our Services

Asset Management Asset Management
Fiduciary Services Fiduciary Services
Family Office Services Family Office Services

The services from Legacy Trust reach well beyond those offered by most trust companies. Legacy's owners are some of our largest clients, and our actions on behalf of every client are governed by an effort to ensure an unparalleled level of responsiveness. We do this through developing long-term client relationships with trust officer accessibility, ongoing communication tailored to your needs and preferences, and an intimate understanding of your assets and objectives.
Legacy's emphasis is on client service – our clients require it and our shareholders demand it.

Asset Management

Asset Management

Asset Management Philosophy

Asset Allocation: Legacy Trust considers asset allocation the foundation of a successful investment program. Customized asset allocations are developed for each client based upon the client’s return and liquidity needs and risk tolerance. In assisting with client portfolios, we also consider long-term goals, tax consequences, and the need for growth in income.

Growth Through Diversification: Our philosophy is that diversified growth is the key to preservation of wealth. Diversification is vital to minimize risk, while growth is necessary to recover the loss of wealth due to consumption, inflation, and taxes over time.

Outside Investment Advisors: Our financial resources enable us to identify and retain premier money managers at favorable costs to our clients. Legacy’s first priority is client performance, not Legacy Trust’s profitability.

Alternative Investments: We believe relationships of sufficient size with long-term horizons benefit from investments in private equity, real estate, and hedge funds.

Current Investments

We diversify client portfolios across asset classes and asset styles, using third party managers to invest accounts according to their investment objectives. Asset allocations and managers may change over time depending on the investment objective, the economic and market outlooks, and the availability of managers. 

Current Investments by Asset Class 

Equity Styles 

  • Large Cap Core 
  • Large Cap Value 
  • Large Cap Growth  
  • Small-Mid Cap Growth 
  • Technology Sector Focus
  • International Developed
  • International Emerging

Fixed Income Styles 

  • Tax-Exempt 
  • Taxable 

Alternative Assets 

  • Real Estate 
  • Private Equity 
  • Private Credit
  • Energy
  • Distressed/Special Situations

Cash Management 

  • Treasury Money Market Fund 
  • Prime Money Market Fund 
  • Tax Free Money Market Fund 

Other Investment Services

Legacy clients often have unique assets such as farms, ranches, or oil & gas interests. Our experience with these assets prepare us to handle the issues they present for a portfolio. In addition, we recognize that clients may be presented with proprietary investment opportunities outside of Legacy Trust, and we are available to assist with screening and due diligence across a wide range of asset types.

Clients have secure, on-line access that enables them to view current account information including updated security valuations, recent and pending transactions, and account balances by asset class.

Fiduciary Services

Fiduciary Services

Trust Services

Trusts provide for the orderly and continuous management of assets in a variety of circumstances.  Legacy as trustee, can accept, or share in, the responsibility and authority for making investment and other discretionary decisions. However, in certain cases, as with a Revocable Living Trust, the trust’s grantor can retain decision-making authority.

As trustee, Legacy Trust performs a number of important functions on our clients’ behalf including:

  • Developing suitable investment objectives
  • Accessing suitable investments
  • Developing and maintain an asset administration and review process 
  • Attending to the trust’s tax needs
  • Exercising impartial and experienced judgment in the use of discretionary powers

For more information on how our trust service can be tailored to meet your needs, contact us at legacy@legacytrust.com.

Estate Settlement Services

Legacy Trust frequently acts as executor, co-executor or agent, helping families settle an estate and making numerous complex decisions on their behalf.

Settlement Services include:

  • Identification and valuation of assets
  • Coordination of estate and inheritance tax returns
  • Asset and liability management
  • Prosecuting and defending lawsuits, when necessary

For more information on how our estate settlement services can benefit you and your family, contact us at legacy@legacytrust.com.

Fiduciary Services

Legacy Trust offers a full range of fiduciary services to our clients to assist with trust and estate issues. These services include serving as agent or custodian for our clients and their foundations, partnerships or other investment entities.

Family Office Services

Family Office Services

Real Property Services

Real property needs vary considerably from family to family. As a result, Legacy Trust offers a full range of real property services, including:

  • Custodial real estate services
  • Managed real estate services
  • Expanded real estate service

From maintaining records to negotiating sales and acquisitions, Legacy Trust tailors our level of involvement to the specific needs of each client.

Oil & Gas Services

Legacy Trust offers clients a full range of services in the oil & gas sector. Our expertise includes holding title, collecting revenues and disbursing joint interest payments, and reviewing authorization for expenditures (AFEs). We can also guide in negotiating leases and sales contracts, and hiring and overseeing engineering and technical assistance.

Foundation Services

Legacy Trust provides a broad range of administrative and investment services to facilitate the effective daily management of a growing number of Private Foundations, including:

  • Investment and Grant Administration
  • Securities Analytics
  • Securities Monitoring
  • Foundation Record Keeping

Strategic, Tactical & Administrative Services

The circumstances defining a family’s profile are unique, while the issues faced often have certain common concerns, requiring similar services.

We work with clients to define their financial objectives by analyzing the present status of assets, liabilities, income and expenses, and by developing alternate courses of action for consideration.

Below are services offered in our role of assisting with wealth management.

Strategic Services

  • Crafting statements and goals
  • Determining investment policy guidelines
  • Assisting with wealth transfer planning
  • Assisting with family member education

Tactical Family Services

  • Money manager selection
  • Portfolio management
  • Performance measurement
  • Tax planning and compliance

Administrative Services

  • Bill paying
  • Property management
  • Insurance services
  • Reporting and accounting

Family Education Services

At Legacy Trust, we believe that a key to the long-term preservation of family wealth is family education.

We have established relationships with premier professionals and organizations devoted to family education. Through these relationships we offer our clients access to interdisciplinary seminars covering topics from asset allocation, to family governance, to intra-family communications. We can facilitate family meetings or design meetings of specific content for specific family members.

We are committed to the notion that family wealth does not consist solely of financial assets. It is the collective intellect, personality and experience of all family members and generations, past and present.

Contact Us

Legacy Trust Company, N.A.
Supplementary Office
P.O. Box 7352
Wilmington, DE 19803-0356
P 302.753.6800

Legacy@legacytrust.com