Founders

Message from Paul Montrone, Chairman, Co-Founder

For many years, I have worked together with Paul Meister (Perspecta’s vice-chairman and co-founder) building and managing successful companies. This experience provided us with firsthand knowledge of how long-term, after-tax wealth is created and the effective strategies to manage it.

When we pooled our resources to share the cost of a family office and began researching third-party financial services, we were not satisfied with the choices available to us. There was a void in the marketplace.

Larger financial institutions are deep in talent and resources and have a broad menu of product and service offerings, but clients are exposed to a variety of possible deficiencies that vary from firm to firm. These include excessive staff turnover, bureaucratic and legalistic responses to client needs, regulatory obstacles, numerous conflicts of interest, and rigid business models that do not jibe with specific client goals and objectives.

Smaller firms, alternatively, offer personalized, tailored services, and position themselves to eliminate many of the problems found in their larger brethren. But they lack the resources, depth, and quality necessary to provide the world-class solutions that today’s wealthy families require.

Unable to find a firm that provided the client alignment, level of excellence, resources, and breadth of offerings we required, we created a solution. It is a rather unique business model that combines a first class team with equally first class outside providers – we named it Perspecta Trust.

After two-years of building and testing our infrastructure and services on our own families, in 2009 we began to invite friends and former colleagues to become clients and to participate in the many unique services and investment opportunities we were developing. Along this journey, we have engaged with many fascinating, successful people who I am pleased are now clients and friends and Perspecta Trust acts as a partner with them.  These relationships are at the heart of the “peer to peer” philosophy that permeates our boutique firm.

Our “secret sauce” on the investment side is to tap into our peers, many of whom are leaders in their fields, to source unique alternative investment opportunities.  Paul and I then invest alongside our clients, eating our own cooking.

Our services are customized to the client’s needs, including wealth transfer strategy, trust services, and investment management and oversight.

Since we are striving to be the best, we also wanted New Hampshire, where we offer our services, to have the best legal structure in the U.S. for our clients.  So, we worked with New Hampshire’s legislative, executive, and judicial branches to create the best laws and judicial framework in our nation for trusts and wealth transfer. We spearheaded the passage and enactment of the watershed legislative bill aptly titled “The Trust Modernization Act of 2006”. Since that early success, numerous additional trust-related bills have been passed by our state’s legislature, which have served to further refine and improve New Hampshire’s position as a global leader for trusts and trust companies.

If you know Paul and me, you realize that our standards of performance are incredibly high.  We seek and demand excellence in whatever we do.  Today, I am very proud to say, Perspecta Trust is a top performer with some of the most experienced and talented professionals across multiple disciplines working with select clients who enjoy and appreciate a first-class, personalized service experience.

We welcome you to join us as we build a lasting firm that will be a legacy for our families and yours.

Very truly yours,

Paul M. Montrone


paul m. montrone

Chairman

For more than three decades, Paul M. Montrone has directed the development of a number of businesses in a diverse set of industries. These include both the public companies indicated below, and his private business interests which have been conducted through Bayberry Financial Services Corporation (formerly Latona Associates), Liberty Lane Partners, and Perspecta Trust LLC. He is presently Chairman of these entities.

Mr. Montrone was the CEO of Fisher Scientific International Inc. from its initial public offering in 1991 until its merger with Thermo Electron in 2006, forming Thermo Fisher Scientific Inc. Under Mr. Montrone’s leadership, Fisher was transformed from a North American manufacturer and distributor into a global enterprise supplying research, testing and clinical laboratories in 150 countries with over 600,000 products and services. Annual sales increased from $760 million in 1991 to approximately $6.0 billion in 2006. Over this 15 year period, the equity value of Fisher increased from approximately $200 million to $12 billion and the annual return to shareholders was 26% compounded.

Prior to leading Fisher Scientific, Mr. Montrone was the Chairman and CEO of Wheelabrator Technologies Inc., a leading environmental services company that is now a wholly owned subsidiary of Waste Management, Inc. Annual shareholder returns at Wheelabrator under his leadership were 22% compounded.

Previously, Mr. Montrone was Executive Vice President of The Signal Companies, Inc., and its successor, AlliedSignal Inc. (now Honeywell International Inc.), as well as President of The Henley Group, Inc., and Executive Vice President and CFO of Wheelabrator-Frye Inc.

Mr. Montrone began his career at the Pentagon, serving in the Systems Analysis Group in the Office of Secretary of Defense Robert McNamara while a Captain in the U.S. Army. A helicopter pilot, he is now Chairman of the New England Helicopter Council.

For many years, Mr. Montrone also participated in healthcare policy matters at the national level. During the Clinton Administration, he was a member of the President’s Advisory Commission on Consumer Protection and Quality in the Health Care Industry, as well as a founder of the National Forum for Health Care Quality Measurement and Reporting. He was a Director of The Healthcare Leadership Council and the New England Healthcare Institute, a member of the Health and Retirement Task Force of the Business Roundtable, and is currently a Director and Treasurer of the Foundation for the National Institutes of Health.

He has also been involved in Washington, D.C., business policy matters, mainly through his activity with the Business Roundtable, where he was a member of its Planning Committee, and Chairman of the Civil Justice Reform Taskforce.

Mr. Montrone has served on a number of corporate boards and has also been active in many nonprofit institutions, especially The Metropolitan Opera, where he has served in various capacities over three decades including President and CEO. He is now President Emeritus. His current other nonprofit boards include the New England Conservatory, the Boston Symphony Orchestra, and the Columbia University Graduate School of Business.

Born in Scranton, Pennsylvania, Mr. Montrone was graduated magna cum laude from the University of Scranton and holds a Ph.D. from Columbia University.


paul m. meister

Vice Chair

Paul Meister is President of MacAndrews & Forbes Holdings Inc., a holding company with interests in a diversified portfolio of public and private companies. He is also co-founder of Liberty Lane Partners, LLC, a private investment company with investments in healthcare, technology, and distribution-related industries and Perspecta Trust, a trust company that provides trust and investment services. Mr. Meister previously served as Chairman and CEO of inVentiv Health, a leading provider of commercial, consulting, and clinical research services to the pharmaceutical and biotech industries.

Prior to that, he served as Chairman of the Board of Thermo Fisher Scientific Inc. and Vice Chairman of Fisher Scientific International, Inc., prior to Fisher’s merger with Thermo. During his tenure as an executive officer of Fisher Scientific, from 1991 to 2006, the company’s revenue and operating income grew at a compound annual growth rate of 15% and 23% respectively as operations grew from two countries to 27 and sales expanded into 140 countries worldwide.

Earlier in his career, Mr. Meister served in a number of executive leadership positions at Wheelabrator Technologies Inc., The Henley Group Inc., and AlliedSignal Inc. (now Honeywell International, Inc.). He began his career with Ford Motor Company.

Mr. Meister holds a Bachelor of Arts degree from the University of Michigan and an MBA from Northwestern University. He is a director of LKQ Corporation, Scientific Games Corporation, and Quanterix Corporation, is co-chair of the University of Michigan’s Life Sciences Institute External Advisory Board, and serves on the Executive Advisory Board of the Chemistry of Life Processes Institute at Northwestern University.