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The clipping this text was read from
The clipping this text was read from

ness. Phipps established Bessemer Trust company in New Jersey in 1907 to manage the family holdings.

All the Bessemer companies are owned by descendants of Henry Phipps. The Bessemer Group, Inc., is a non-bank holding company created to hold the shares of Bessemer Trust Company and Bessemer Trust Company, located in New York, as well as Bessemer Tiust Company of Florida. Together, the three trust companies manage assets totalling $3 billion, serving some 60 institutional clients and more than 300 individual clients, along with members of the Phipps family. Bessemer Securities Corporation is a private investment company owned principally by trusts for the benefit of descendants of Henry Phipps.

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