FAQs for SATC

  • What is an SATC?

SATC stands for Stand-Alone Trust Corporation. An SATC is a separately incorporated entity which performs the same functions of a trust group of a bank (i.e. engaged primarily in trust, other fiduciary business and investment management activities). An SATC can be a subsidiary or an affiliate of a bank.

 

  • What does it mean that RCBC Trust and Investments Group (TIG) is transitioning to a Stand-Alone Trust Corporation?

On November 28, 2022, RCBC’s Board of Directors has authorized the Bank to spin-off its Trust and Investments Group (TIG) into an SATC. The spin-off is subject to BSP approval. TIG will have to secure the various licenses required. The whole transition process can take years to complete.

 

  • Will there be any changes to my RCBC TIG account while the transition to an SATC is on-going?

There will be no changes to the way your account with RCBC TIG is managed (i.e. transactions, documents/forms, etc.). Everything will be status quo.

 

  • Once the spin-off is completed, will there be any changes to the way my account is managed?

The existing accounts of RCBC TIG will be managed by the SATC on Day 1 of its incorporation. There will be NO changes in the way your account is managed. You can still talk to your dedicated Portfolio Manager or Relationship Manager for concerns or queries regarding your account. UITFs booked via the branch can still be accessed via any RCBC branch. If you opened or enrolled your Trust account online (e.g. UITF or IMA), you will still be able to access your account via RCBC Digital.

 

  • Who can I talk to for queries regarding RCBC TIG’s transition to an SATC?

You may get in touch with your Portfolio Manager or Relationship Manager for questions on how the transition to an SATC may affect your account. You may also send your questions to rcbctig_satc@rcbc.com.