Trustee

An organisation or individual that holds or manages and invests assets for the benefit of another. The trustee should be totally independent of the settlor and has the fiduciary responsibility to the beneficiaries to manage the assets of the trust as a reasonable prudent business person would do in the same circumstances. They are legally obliged to make all trust-related decisions with the trustee's interests in mind, and may be liable for damages in the event of not doing so.