UNIVERSITY OF FLORIDA Worklife Balance In 1955, two years after Aetna's centennial, Brainard resigned the position of president to become Aetna's first chairman. Until then, Aetna and most other insurance companies had accepted interest-bearing notes as half payment for premiums. Services are confidential and are available 24 hours a day, 7 days a week. New Challenges from Changing Economy in the Early 1990s. PT Asuransi Central Asia (CRN KEP-2097/MD/1986) Mall Ambassador Ruko 2 & 3 Jl. The company's filing status is listed as Withdrawn and its File Number is 0882601. While governor, Bulkeley loaned the state of Connecticut $300,000 from Aetna's funds during a period of financial need. In 1981 the company reorganized its operations into five insurance divisions. 151 FARMINGTON AVE., TN41, HARTFORD, CT 06156, AETNA PROFESSIONAL MANAGEMENT CORPORATION, 5007 NEW KINGS RD. Financial Services insurance life insurance Aetna is a health care benefits company. Aetna also opened up two new lines of business during these difficult years: pensions in 1930 and group hospitalization policies in 1936. The personal/financial/security division provided automobile and homeowner insurance, life and health insurance, and retirement funding and annuity products to individuals, small businesses, and employer-sponsored groups. Meanwhile, the Aetna Accident and Liability Company was expanding its business in fidelity and surety bonds, and in 1917 changed its name to the Aetna Casualty and Surety Company. Enders resigned in 1879. World War II finally helped pull Aetna and the nation out of the Depression. The Texas Medical Association had opposed the deal, concerned that it would give Aetna too large a share of the market in those two cities. In place of administration by one man, Smith introduced the "corporate office" approach, a consensual relationship of the four top managers--chairman, president, and two vice-presidents--with the chairman still slightly dominant. The New York State Department of Financial Services hereby gives notice of the following public hearing: Subject: Application by CVS Health Corporation and CVS Pharmacy, Inc. for Approval of Acquisition of Control of Aetna Health Insurance Company of New York. The suit, whose class included nearly all U.S. physicians, had listed a number of complaints, including unfair billing practices and interference with treatment recommendations. Net income for 1991 was reported at only $505 million, the downturn aggravated by property claims resulting from Hurricane Bob. One of the key steps taken by the new leadership team was to mend fences with both doctors and patients. Huber oversaw several deals in the late 1990s that further bolstered Aetna's position as a major health insurer. Hill took over as president. The international insurance division handled insurance and investment products in non-U.S. markets. Prof. Dr. Satrio Jakarta 12940, Indonesia. The marine division of the affiliate had expanded swiftly during the war years, but had exercised poor judgment in the selection of risks, especially following World War I, when solicitation of marine business should have been curtailed. Aetna offers plans to businesses large and small, in all 50 states. Aetna Financial Services … NOTICE OF PUBLIC HEARING. JACKSONVILLE, FL 32203, ONE FINANCIAL PLAZA In response to several state legislatures' efforts to roll back or otherwise restrict the rise in auto insurance rates, the company attempted to pull out of both Pennsylvania's and Massachusetts' auto insurance markets, although such efforts drew resistance from both state regulators and consumers. The Automobile Insurance Company also had gained new business by assuming risks from other companies. Aetna health plans cover about 13 million individuals, and its dental plans have nearly 11 million members. NYLCare HMOs operated in several large metropolitan areas, including Washington, D.C., Houston, and Dallas, as well as a number of cities in the states of Illinois, Maine, New Jersey, New York, and Washington. Group insurance premiums declined quickly after the war with the switch to a peacetime economy, but Aetna's prewar experience with group insurance helped the company rally with relative ease. Aetna commits $7 million to help fund the American Heart Association’s National Women’s Heart Disease and Stroke Campaign to raise awareness among women about the risks of heart disease and stroke. AETNA LIFE & CASUALTY CO./151 FARMINGTON 1 in Managed Care,", Smart, Tim, and Richard A. Melcher, "The Floodwaters Rise Around Aetna,", Steinmetz, Greg, "Aetna Revamps, Taking a Charge of $1.28 Billion,", Treaster, Joseph B., "Aetna Agreement with Doctors Envisions Altered Managed Care,", Winslow, Ron, "Aetna to Acquire Prudential Health Unit,", Winslow, Ron, and Leslie Scism, "Aetna Agrees to Acquire U.S. Healthcare,", Winslow, Ron, Leslie Scism, and Elyse Tanouye, "Aetna Hopes for Breath of New Life from Acquisition,", Wojcik, Joanne, "Aetna's Shift to Health Focus Brings Struggles,". Aetna is the brand name used for products and services provided by one or more of the Aetna group of companies, including Aetna Life Insurance Company and its affiliates (Aetna). Refer to Note 15 of Condensed Notes to Consolidated Financial Statements for … With Beers's inauguration, the long history of family control ended and a new era of shorter presidencies began. § 10-01.1-13) and is located at 600 E Boulevard Ave Dept 108, Bismarck, ND 58505-0500. Policyholder Resistance to Changes in the Insurance Industry in the Late 19th Century. Despite steadily increasing revenues, profits were falling, dropping from $901 million in 1997 to $848.1 million in 1998 to $716.9 million in 1999. Ronald E. Compton became president of Aetna in 1988. ET. Seeking security during the uncertain war years, many people bought life insurance policies for the first time. In July 1998 the company spent more than $1 billion to acquire New York Life Insurance Company's health insurance operations, which were known as NYLCare Health Plans. To gain antitrust approval from the U.S. Department of Justice, Aetna had to divest its NYLCare HMO businesses in Dallas and Houston. For 2003, although revenues fell to $17.98 billion from $19.88 billion, Aetna netted $933.8 million. Moving into the 20th Century: Advancing Through Diversification and Innovation. "We take care," Huber stated, "of what matters most to the vast majority of the population, their health and their wealth." Plagued by natural disasters and bad weather for the remainder of the year--the winter storms during the fourth quarter alone generated almost 18,000 claims totaling $118 million--as well as a $55 million charge for withdrawing its automobile insurance services from Massachusetts, the company saw its 1992 net income eroded to $56 million. One year later Olcott D. Smith succeeded Beers as chairman. By February 2000 Aetna's stock had fallen to $39, having lost two-thirds of its value since August 1997. The content within this section is for educational purposes only and should not be construed as investment advice. The complicated transaction was completed in December 2000. Aetna Financial Services, Inc. is a North Carolina Business Corporation filed on March 6, 1970. Aetna Financial Services was founded in 1998. During this period the company regained its financial footing in part by hiring its first midwestern agent, a Connecticut man, who opened an office in Wisconsin to serve the burgeoning market in those states. Time and Date: 10:00 a.m. on October 18, 2018. Privacy Policy, "Aetna: A Long Way to the Recovery Room,", "Aetna: Where Group Management Didn't Work,", Anders, George, "Aetna Will Sell Unit to KKR for $1.4 Billion,", Benko, Laura B., "Makeover at Aetna Lags,", Brady, Diane, "Aetna's Painful Recovery,", ------, "The Volcano Behind Aetna: Under Jack Rowe, It's a Force for Health-Care Reform,", Gentry, Carol, "Aetna's Shares Catch Cold from Its New Health Unit,", ------, "As Aetna's Woes Pile Up, Its Chairman Is Under Fire,", Gentry, Carol, and Nikhil Deogun, "Aetna to Split into Two Separate Businesses,", Jackson, Susan, "Aetna's Brave Old World,", King, Resa W., and Marc Frons, "How Government Groomed Jim Lynn for Aetna,", Lagnado, Lucette, "Personality Change: Old-Line Aetna Adopts Managed-Care Tactics and Stirs a Backlash,", Lagnado, Lucette, and Joann Lublin, "Hospital Chief Picked to Revive Distressed Aetna,", Levick, Diane, "Another Adventure Beckons,", Lohse, Deborah, "Aetna to Sell Some Assets to Lincoln,", Loomis, Carol J., "Behind the Profits Grow at Aetna,", Martinez, Barbara, "Aetna to Announce Settlement with Physicians,", ------, "Aetna to Expand Its Catalog of Health-Plan Products,", ------, "Making Amends: Aetna Tries to Improve Bedside Manner in Bid to Help Bottom Line,", Scism, Leslie, "Aetna to Buy New York Health Unit,", ------, "Travelers Stock Jumps on Plan to Buy Aetna Unit,", Smart, Tim, "Moving Mount Aetna: What It Will Take to Make the U.S. Healthcare Merger Pay,", Smart, Tim, and Keith H. Hammonds, "Aetna's Booster Shot: An $8.9 Billion Merger Makes It No. Financial services can help you with: Aetna Resources For Living. In 1913 Aetna formed a group department to sell group life insurance. In addition, in a move that would become much more important in subsequent decades, Aetna created a health maintenance organization (HMO) subsidiary in 1973. What remained of Aetna--the company's international and financial services units--was acquired by ING for about $7.75 billion. Efforts to enter the Mexican market after the passage of NAFTA were among the company's attempts to forestall further decreases in net earnings in 1994 and 1995. In 1996, under Compton and newly appointed Chairman of Strategy and Finance Richard L. Huber, Aetna began to shed both its corporate malaise and its tradition-bound methods of operation. In 1911 Bulkeley lost his senate seat and returned full-time to his position with Aetna. Aetna Retirement Services purchases Financial Network Investment Company, a leading financial planning company. FT LAUDERDALE, FL 33394, SMITH KIRKPATRICK, ENGLISH DEPT. In March 1926, Brainard discovered that the Automobile Insurance Company had understated its liabilities and taken on more business than it could handle. William H. Donaldson, cofounder of the investment banking firm Donaldson, Lufkin & Jenrette, Inc., was named chairman and CEO. Because of the drop in membership, Aetna was no longer the nation's largest managed-care insurer, but it appeared to be a stronger company. Last event in this company was registered on Wednesday 13th November 2002 - is eighteen years, one month and fifteen days ago. Aetna International is part of Aetna, one of the world's largest providers of health care, dental, pharmacy, group life and disability insurance, along with employee benefits. Against this long awaited rise in net income, the company announced that it intended to sell its property-casualty subsidiary, which had contributed mounting losses to the corporate balance sheet over the past several decades through its policies for individuals and businesses. US Federal EIN/TIN number of this company is 06-0858223. In 1922 life insurance in force was $1.3 billion. ), c. 33, with its head office in the City of Montreal and offices in Toronto. But the company's board rebuffed this unsolicited bid and instead announced in March that the company would split, creating two separate businesses focusing on healthcare and financial services. Of the members in Aetna's health plans, 36 percent are enrolled in health maintenance organizations (HMOs), 34 percent in preferred provider organizations (PPOs), 17 percent in point-of-service (POS) plans, and 11 percent in traditional indemnity plans. For a few years, this new company issued all the new forms of insurance Aetna offered, but soon further diversification was necessary. Source: International Directory of Company Histories, Vol.63. Hired away from Aetna rival WellPoint Health Networks, Williams was promoted to president of Aetna in May 2002. In 1916 Aetna Auto began to offer marine insurance, a line that was greatly broadened during World War I. Nevertheless, rapid diversification into non-insurance fields later in the same decade undermined earlier gains. Continuing to shed noncore operations, Aetna sold its U.S. individual life insurance business to Lincoln National Corporation for $1 billion in cash in October 1998. To learn more about Aetna insurance products or to receive a quote, you may visit the Aetna website or call 1-800-US-AETNA (1-800-872-3862) between the hours of 7:00 a.m. and 7:00 p.m. In 1902 Aetna opened a separate accident and liability department to handle employers' liability and workmen's collective insurance. Company Number assigned to this company The Registered Agent on file for this company is Nancy Descano / Aetna Financial Services and is located at C/O Corporation Service Company, 1013 Centre Rd, Wilmington, DE 19805. Aetna Life was originally formed as an affiliate of the older Aetna Insurance Company, which specialized in fire insurance (and was named after Mt. Aetna Financial Services, Inc. is a West Virginia Foreign C | Corporation filed on June 16, 1970. Six years later Aetna entered into an international cooperation agreement with Italy's Assicurazioni Generali S.p.A. through which each company provided reciprocal services to the other's clients while abroad. In the fluctuating economic climate of the 1990s, Aetna began to redraw its traditional market sector, as well as to reorganize its three domestic insurance divisions into 15 strategic business units. The EAP is administered by Aetna Behavioral Health, LLC, Aetna Health of California, Inc. and Aetna Health and Human Resources Company, Inc. learn how over 7,000 companies got started! HARTFORD, CT 06156, % CHARLES H. KLIPPEL, YFF1 In 1853 the Connecticut legislature granted a petition for the separate incorporation of the Aetna Life Insurance Company. Myron Piccoult, an analyst at Oppenheimer & Co., a brokerage firm, said the purchase of Montagu was a ''bold stroke,'' placing Aetna firmly in the commercial financial-services field. Diversification Followed by Reorganization in the 1970s. The plaintiff Pre-Vue was placed in receivership under a debenture by the defendant Aetna Financial Services, which was a federally incorporated lending institution operating and having assets in Manitoba, Ontario and Quebec. Health benefits and health insurance plans contain exclusions and limitations. As a result, the new Aetna was focused almost solely on U.S. medical and dental insurance and related products; it did retain much smaller operations in group life, disability, and long-term-care insurance and in large-care pensions. Its total assets increased from $25.6 million in 1879 to $207 million in 1922, while premium income increased more than 20-fold during the same period. The appellant Aetna Financial Services Limited (for convenience hereinafter called "Aetna") is a company incorporated under the Canada Business Corporations Act, 1974‑75‑76 (Can. In fact, by this time many doctors and healthcare consumers were in open rebellion against the policies that had prevailed at Aetna since its purchase of U.S. Healthcare. Although the company did suffer because it had assumed growing numbers of farm mortgages that defaulted during the Depression, Brainard's careful business practices kept the losses to a minimum. This action, which shadowed a similar charge against reserves made in 1992, made it the first among the nation's insurance giants to recognize corporate environmental liability. We have no data about company previous names. The value of the settlement was estimated at about $470 million. Many canceled their policies, and new policyholders were not forthcoming. Aetna passed back into family hands when Morgan G. Bulkeley, Eliphalet Bulkeley's son, took over leadership of the firm, a position he was to retain for the next 43 years. 2000 - Aetna sold its financial services and international businesses to ING Group for $7.7 billion, spun off its health business to its shareholders, thus focusing its business as an independent health and group benefits company. Aetna's travails were compounded by the difficulty it had integrating its operations with those of U.S. Healthcare and also by the discovery that the newly acquired Prudential health unit was losing more money than anticipated. Specializing in managed healthcare, Aetna Inc. is one of the largest providers of health insurance and related benefits in the United States. The result was the creation of a mutual department whose accounting system was separate from that of management. Get reviews, hours, directions, coupons and more for ING Aetna Financial Services at 6225 Sheridan Dr Ste 212, Buffalo, NY 14221. ATLANTA, GA 30327. The company started out in the mid-19th century as a life insurer and then slowly evolved into a multiline insurer. HARTFORD, CT 06156, 151 FARMINGTON AVE, RW61 To repair the company's finances, Rowe cut about 15,000 jobs and raised insurance premiums by about 16 percent per year to keep ahead of medical inflation. Out of 60 sectors in the Mergr database, insurance ranked 19 in number of deals in 2000.The largest insurance acquisition in 2000 was Aetna Financial Services - which was acquired by ING Groep N.V. for $7.7B.. Join Mergr to view all 38 acquisitions of insurance companies in 2000, including 2 acquisitions by private equity firms, and 36 by strategics. Retrenchment and Cutbacks in the Mid-1990s. Aetna's success was in large part due to innovations in forms of insurance. In addition to health insurance, the company offers dental, pharmacy, group life, disability, and long-term-care products. In the wake of questions from the state insurance commissioner about the booking of these notes as assets, and the negative press elicited by the commissioner's report, Aetna management decided to start requiring full cash payment for premiums. He cut business drastically, resulting in premium income of just $7.9 million in 1927 for the auto affiliate. Financial well-being Intelligent solutions Counseling and Relationship Support Aetna Resources For Living services are available to you, all members of your household and your adult children up to the age of 26, regardless of your medical insurance coverage. While pulling out of the auto insurance market, the company was investing heavily in the growing field of managed healthcare insurance. is 833532. Not all health and/or life services are covered. The appellant Aetna Financial Services Limited (for convenience hereinafter called "Aetna") is a company incorporated under the Canada Business Corporations Act, 1974‑75‑76 (Can. Aetna also moved into the Philippines, where it was granted a license in 1995, to Latin America, where it invested $390 million in Brazil's Sul America Seguros in 1997, and to China, where it established two offices with the expectation that the country would soon be open to foreign insurance offices. Aetna Global Benefits (Asia Pacific) Limited. Company mailing address is ING AMERICAS, %PAUL HOWELL The commercial insurance division marketed property-casualty insurance and bonds for businesses, government units, and associations, including workers' compensation. Principal Competitors: Anthem, Inc.; UnitedHealth Group Incorporated; Blue Cross and Blue Shield Association; Kaiser Foundation Health Plan, Inc.; CIGNA Corporation; Humana Inc.; PacifiCare Health Systems, Inc.; Health Net, Inc. The employees benefits division offered group insurance, healthcare services, and pension and related financial products to business, government units, associations, and welfare trusts. A noted gerontologist, Rowe had most recently served as head of Mount Sinai NYU Health, a group of nonprofit New York City hospitals. Hartford, CT 06156, 151 FARMINGTON AVENUE-YFF1 LAW DEPT. The company also began to curtail its expansion of personal property and casualty insurance markets in several states, and cut back personal mortgage insurance early in the decade. The deal increased the number of Americans covered by Aetna health plans from 16 million to 22 million, and it also more than doubled Aetna's dental insurance business to 15 million members. By 1990 Aetna Life & Casualty had spent more than $400 million to establish its own HMO, a profitable venture that helped buoy net income for that year to $614 million, against a slight drop in overall earnings. Aetna Insurance (Singapore) Pte. Travelers Group agreed to a merger with the Aetna division in November, paying Aetna $4.1 billion for a 72 percent interest in the company and making the newly formed Travelers/Aetna Property Casualty Corp. one of the fifth largest carriers of such insurance in the nation. Bulkeley had presided over Aetna during the speculative postwar years, and had maintained careful control of the risks the company assumed. In 1929 only 11.7 percent of Aetna's assets were in common stock, and almost half of that in the stock of Aetna affiliates, another condition that helped Aetna survive during the 1930s. He subsequently became governor of Connecticut and then a U.S. senator. In addition, Aetna modified its form of investor ownership to permit policyholders to control their own funds in a separate mutual department that operated within the overall management structure. In mid-1994 Aetna took another hit: $1.75 billion charged toward loss reserves for the purpose of paying out pollution- and asbestos-related claims against policies written for large industrial businesses as long ago as the 1950s. Aetna also introduced new health plans, such as Aetna HealthFund (launched in 2001), that gave plan members more direct control over their healthcare decisions. The company's filing status is listed as Expired and its File Number is 623676. Aetna does not provide financial services and makes no representations or warranties as to the quality of the information or services provided by MLPF&S. As consumers, we often take for granted all the hard work that goes into building a great company. Company Number assigned to this company is 833532. Year-end 1994 saw net income rise to $467.5 million. If you are a resident of Connecticut, call 1-860-273-0123. The number of employees grew from 29 to 2,000. The company would withdraw from the auto insurance business in 13 other states over the next few years. Within this department, policyholders controlled their own funds and received dividends, but did not vote for the management of the company. All rights reserved. Brainard, by contrast, intended to initiate a new style of leadership. However, a new state insurance regulation passed in nearby New York state in 1849, and strengthened in 1853, prohibited the same company from providing both fire and life insurance. ; Unlimited users - Assign an unlimited number of administrative and general users at your practice. Such expansion, however, did not come without costs. After reporting a net loss of $279.6 million in 2001, the firm was profitable the following year before the effects of a charge taken because of a change in accounting principles. Our financial results. Principal Subsidiaries: Aetna Health Inc.; Aetna Health of California Inc.; Aetna Health of the Carolinas Inc.; Aetna Health of Illinois Inc.; Aetna Dental Inc.; Aetna Dental of California Inc.; Aetna Life Insurance Company; Aetna Health Insurance Company of Connecticut; Aetna Health Insurance Company of New York; Corporate Health Insurance Company; Aetna Health Administrators, LLC. Series of Health Insurance Acquisitions in the Late 1990s. Vice-President Henry Beers succeeded him as Aetna's fifth president. Read more about the acquisition; ... Aetna Inc. For language services, please call the number on your member ID card and request an operator. - 19TH FL The company's filing status is listed as Name Change (Reserved For Old Records). Phone number. Bulkeley maintained firm control over both his government office and his corporate office. Bulkeley died in 1872 and was succeeded by Thomas O. Enders, who had served as both a clerk and secretary for the firm. RW4A The company also divested itself of its American Re-Insurance subsidiary in September 1992, selling it to American Re Corporation for $1.31 billion and raising much needed cash. You can find this business by geo coordinates: 41° 46' 1.7" N , 72° 41' 28.5" W. It also completed several acquisitions during this period to build its health business into a national player. Basic Concepts Financial Services is not affiliated with HTK. Trained as a lawyer, he served as secretary of Housing and Urban Development from 1973 to 1975, and as director of the Office of Management and Budget from 1975 to 1977. Aetna also combined its financial services business units into Aetna Retirement Services. Later that same year Aetna purchased the Participating Annuity Life Insurance Company, becoming the first major insurance firm to enter the variable annuity market. In 1960 Aetna entered the international market with the purchase of Excelsior Life Insurance Company of Toronto. The year 1861 was important for Aetna for two reasons: the Civil War began and Aetna modified its form of ownership. Last event in this company was registered on Wednesday 13th November 2002 - is … HARTFORD, CT 06156. In 1972 John H. Filer succeeded Smith as chairman, and Donald M. Johnson was named president in 1970. Despite a slowly improving national economy, the continuing deterioration of the company's mortgage loan portfolio would force Aetna to engage in further streamlining efforts, and in June 1992 the company laid off 10 percent of its workforce. Bulkeley guided Aetna through its difficult first years, when new insurance laws in some states required capital deposits beyond the stockholders' resources, hindering Aetna from doing business in those states. The decline was reversed in the early 1970s, in part because of nationwide decreases in losses and increases in premiums and in part because of Aetna's move to control costs and concentrate on the most profitable lines of insurance. Dividends were not paid between 1932 and 1934, but no Aetna employees were dismissed. Aetna was founded in Connecticut in 1853 as the Aetna Life Insurance Company. Aetna Financial Services A. Aetna Financial Services CLAIM THIS BUSINESS. . Accordingly, Brainard focused on efficiency of administration, concentrating particularly on relations and communications with agents in the field. In 1968 Aetna was first listed on the New York Stock Exchange. The depression of 1857 further threatened the firm's financial stability, but Aetna survived in the face of multiple bank closings. A further sign that Aetna was serious in its efforts to reposition itself by narrowing its focus to health and life insurance and financial services came in November 1991, when the company announced that Aetna President Ronald E. Compton would be appointed chairman upon the retirement of James T. Lynn in early 1992. Aetna U.S. Healthcare was then renamed Aetna Inc. (meaning that the "new" Aetna would trace its incorporation back to that of United States Health Care Systems, Inc. in 1982). Earnings declined by 23 percent from the previous year, a downturn reflecting increased competition in the commercial property-casualty business, rising loss costs in auto and homeowners insurance lines, and losses in its highly competitive multinational corporations operations. Enter username and password to access your secure Voya Financial account for retirement, insurance and investments. Both events profitably affected the company's growth. Despite the layoffs, the efforts to shrink the company's unprofitable pension business, and the implementation of other cost-containment measures, industry analysts were skeptical that the sprawling insurance giant could stem continued losses. The war gave Aetna several opportunities to develop new types of insurance coverage. By 1879 he had been a councilman and alderman and was successfully running for mayor of Hartford. In 1976 William O. Bailey succeeded Johnson. I have got to surround myself with as able a group of men as I possibly can." Copyright (c) 2019 Company-Histories.com. In 1912 Aetna offered the first comprehensive auto policy, providing all kinds of auto insurance in one contract, and in 1913 a second Aetna affiliate was formed, the Automobile Insurance Company. Place: Department of Financial Services, One … We see them around but we don't know what goes on behind the scenes. 300 PENN CENTER BLVD # 740 PITTSBURGH, PA 15235 Get Directions (412) 823-4704. www.ajcostanzo.com . In 1922 the affiliate's premium income reached $11 million; in 1923, $19 million; and in 1924, premium income reached $30 million. The company's filing status is listed as Inactive - Voluntary and its File Number is 0000012830. ), c. 33, with its head office in the City of Montreal and offices in Toronto. The parent company Aetna Life & Casualty was renamed Aetna Inc., with the company realigning itself around the new name and new identity. The activities of these five insurance sectors were supported by the operations of a financial division that managed all of the firm's investment portfolios. Unlike his uncle, Brainard was a company man. Regulated by the Monetary Authority of Singapore. 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