Alex. Brown to begin ventureAlex. Brown Inc. said...

BUSINESS DIGEST

November 24, 1992

Alex. Brown to begin venture

Alex. Brown Inc. said yesterday that it would join a Philadelphia-based trust management firm to create a joint venture to manage trusts and other assets for individuals and institutions with $3 million or more to invest.

Alex. Brown and the Glenmede Corp. would each own half of the joint venture, to be known as Chesapeake Advisory & Trust Holdings Inc. Its first operations are expected to open in the spring and would initially be based at Alex. Brown's Baltimore headquarters.

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