TMI Holdings Merges with Louisiana RIA
TMI Holdings, a Tampa-based trust company, completed its merger with Argent Financial Group, a Louisiana-headquartered independent fiduciary wealth manager, bringing Argent’s total assets under management to $65 billion.
TMI Trust Company will now operate as a wholly owned subsidiary of Argent under its new name Argent Institutional Trust Company.
“I’ve been incredibly pleased and proud of how well our corporate cultures have already begun to dovetail together. It’s cliché to say, but this is truly a match made in heaven,” said TMI Executive Chairman Tony Guthrie.
The merger, announced in late May, adds three executives to the team. Guthrie joins Argent Financial Group as president, remaining executive chairman of Argent Institutional Trust Company. Chris Teevan, TMI’s COO, has been named Argent’s COO.
Chris Pitrof, TMI’s chief strategy officer, has been named Argent’s chief strategy officer. TMI Trust CEO Steve Eason will continue to lead Argent Institutional Trust Company and its operating businesses.
TMI Trust Company, TMI’s flagship entity, specializes in institutional trusts, corporate trusts, custody, and related services. Salem Trust Company, a subsidiary of TMI Trust, provides retirement plan custody services.
Argent was founded in 1990, but its roots date back to 1930. TMI Trust was established as a Texas chartered trust business in 1954.
